Cintas Co. (NASDAQ:CTAS) Shares Bought by Cassady Schiller Wealth Management LLC

Cassady Schiller Wealth Management LLC lifted its position in Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,527 shares of the business services provider’s stock after buying an additional 18,395 shares during the quarter. Cintas comprises approximately 1.8% of Cassady Schiller Wealth Management LLC’s holdings, making the stock its 10th biggest position. Cassady Schiller Wealth Management LLC’s holdings in Cintas were worth $5,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc raised its stake in Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after acquiring an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 86,460 shares during the last quarter. Creative Planning raised its holdings in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after acquiring an additional 4,957 shares during the period. Western Financial Corp CA lifted its position in Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after acquiring an additional 10,177 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in shares of Cintas by 361.9% during the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock worth $287,000 after acquiring an additional 1,093 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CTAS shares. Truist Financial increased their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Redburn Atlantic started coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Finally, UBS Group raised their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Down 0.7 %

NASDAQ CTAS opened at $215.20 on Friday. Cintas Co. has a twelve month low of $136.50 and a twelve month high of $227.35. The business’s fifty day moving average is $221.49 and its 200 day moving average 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 company has a market cap of $86.79 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 4.24 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 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.70 earnings per share. As a group, sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. Cintas’s dividend payout ratio is 39.39%.

Cintas declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.