Raymond James Trust N.A. Buys 5,773 Shares of Cintas Co. (NASDAQ:CTAS)

Raymond James Trust N.A. boosted its stake in Cintas Co. (NASDAQ:CTAS) by 263.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,964 shares of the business services provider’s stock after acquiring an additional 5,773 shares during the period. Raymond James Trust N.A.’s holdings in Cintas were worth $1,640,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTAS. Altiora Financial Group LLC raised its holdings in shares of Cintas by 300.0% in the 3rd quarter. Altiora Financial Group LLC now owns 1,560 shares of the business services provider’s stock worth $321,000 after purchasing an additional 1,170 shares during the period. Charles Schwab Investment Management Inc. increased its position in Cintas by 258.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock worth $390,127,000 after buying an additional 1,365,825 shares during the last quarter. Banco Santander S.A. increased its position in Cintas by 404.7% in the third quarter. Banco Santander S.A. now owns 129,748 shares of the business services provider’s stock worth $26,713,000 after buying an additional 104,040 shares during the last quarter. Smithfield Trust Co raised its stake in shares of Cintas by 324.5% in the third quarter. Smithfield Trust Co now owns 416 shares of the business services provider’s stock valued at $85,000 after buying an additional 318 shares during the period. Finally, Mizuho Securities USA LLC lifted its position in shares of Cintas by 234.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 22,217 shares of the business services provider’s stock valued at $4,574,000 after buying an additional 15,577 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the subject of several recent research reports. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 0.1 %

Shares of CTAS stock opened at $221.76 on Friday. The business has a 50-day moving average price of $210.64 and a two-hundred day moving average price of $197.26. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $227.35. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $89.44 billion, a P/E ratio of 56.00, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping 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 the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 EPS. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio 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.