Bank of Hawaii Grows Holdings in Cintas Co. (NASDAQ:CTAS)

Bank of Hawaii grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,800 shares of the business services provider’s stock after acquiring an additional 1,350 shares during the period. Bank of Hawaii’s holdings in Cintas were worth $371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC boosted its stake in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. Financial Management Professionals Inc. increased its position in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. Hollencrest Capital Management raised its stake in Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas in the second quarter worth about $27,000. Finally, Addison Advisors LLC grew its stake in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research analyst reports. Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Robert W. Baird lifted their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted 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. 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. Finally, Jefferies Financial Group dropped their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two investment 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’s stock. According to MarketBeat, Cintas has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 1.0 %

Cintas stock opened at $223.90 on Tuesday. The firm has a market cap of $90.30 billion, a PE ratio of 56.54, a P/E/G ratio of 4.37 and a beta of 1.32. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $227.35. The stock’s 50 day simple moving average is $211.02 and its two-hundred day simple moving average is $197.78. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last announced its quarterly 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 net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. 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.