Commerce Bank Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

Commerce Bank increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 279.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 49,432 shares of the business services provider’s stock after buying an additional 36,388 shares during the period. Commerce Bank’s holdings in Cintas were worth $10,177,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Strategy Asset Managers LLC grew its stake in shares of Cintas by 219.1% during the third quarter. Strategy Asset Managers LLC now owns 2,020 shares of the business services provider’s stock valued at $416,000 after acquiring an additional 1,387 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Cintas in the third quarter valued at about $210,000. Kraft Davis & Associates LLC grew its stake in Cintas by 300.0% during the 3rd quarter. Kraft Davis & Associates LLC now owns 3,368 shares of the business services provider’s stock valued at $695,000 after purchasing an additional 2,526 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Cintas by 304.1% during the 3rd quarter. Avior Wealth Management LLC now owns 299 shares of the business services provider’s stock worth $62,000 after purchasing an additional 225 shares during the last quarter. Finally, West Family Investments Inc. raised its position in shares of Cintas by 305.1% in the 3rd quarter. West Family Investments Inc. now owns 1,272 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 958 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays boosted their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Redburn Atlantic started coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Finally, Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report 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, Cintas presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Up 0.4 %

CTAS opened at $218.75 on Thursday. The stock’s 50 day moving average price is $210.05 and its 200 day moving average price is $196.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a market cap of $88.22 billion, a P/E ratio of 55.24, a P/E/G ratio of 4.24 and a beta of 1.32. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $227.35.

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

Cintas Announces Dividend

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

Cintas Company Profile

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.