1,076 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by Montecito Bank & Trust

Montecito Bank & Trust bought a new position in Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,076 shares of the business services provider’s stock, valued at approximately $222,000.

Other large investors also recently modified their holdings of the company. LGT Financial Advisors LLC lifted its holdings in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Cintas during the second quarter worth approximately $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas during the first quarter worth approximately $29,000. Finally, Grove Bank & Trust lifted its holdings in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after buying an additional 134 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on CTAS. Royal Bank of Canada upped their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $219.52 on Friday. The business’s fifty day moving average price is $218.46 and its two-hundred day moving average price is $192.79. Cintas Co. has a fifty-two week low of $131.01 and a fifty-two week high of $219.87. The stock has a market capitalization of $88.53 billion, a price-to-earnings ratio of 55.43, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.