KPP Advisory Services LLC Grows Holdings in Cintas Co. (NASDAQ:CTAS)

KPP Advisory Services LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 312.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,791 shares of the business services provider’s stock after acquiring an additional 1,357 shares during the period. KPP Advisory Services LLC’s holdings in Cintas were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Checchi Capital Advisers LLC increased its stake in Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after buying an additional 14 shares in the last quarter. Axxcess Wealth Management LLC raised its position in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after buying an additional 14 shares during the period. Field & Main Bank grew its holdings in shares of Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares during the period. Drive Wealth Management LLC boosted its stake in Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after buying an additional 16 shares during the period. Finally, TIAA Trust National Association boosted its position in shares of Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after purchasing an additional 16 shares during the period. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTAS has been the subject of several research reports. Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group lifted their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird upped their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Barclays lifted their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

Shares of CTAS stock opened at $215.20 on Friday. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35. The stock’s 50-day moving average price is $221.49 and its 200 day moving average price is $195.50. 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 stock has a market capitalization of $86.79 billion, a PE ratio of 54.34, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned $3.70 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. 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 0.72%. Cintas’s dividend payout ratio (DPR) is 39.39%.

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 outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.