Empirical Finance LLC Has $2.45 Million Stake in Cintas Co. (NASDAQ:CTAS)

Empirical Finance LLC lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 308.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,909 shares of the business services provider’s stock after acquiring an additional 8,992 shares during the quarter. Empirical Finance LLC’s holdings in Cintas were worth $2,452,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after acquiring an additional 86,460 shares in the last quarter. Atria Investments Inc grew its stake in shares of Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 16,623 shares during the last quarter. Creative Planning increased its holdings in shares of Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Western Financial Corp CA lifted its holdings in Cintas by 628.2% during the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after buying an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its position in Cintas by 361.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after buying an additional 1,093 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Down 0.7 %

Shares of Cintas stock opened at $215.20 on Friday. Cintas Co. has a 1 year low of $136.50 and a 1 year high of $227.35. 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 company has a market capitalization of $86.79 billion, a P/E ratio of 54.34, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32. The business has a 50-day moving average of $221.49 and a two-hundred day moving average of $195.28.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) 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 business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business earned $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

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

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent research reports. Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas 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.