KCM Investment Advisors LLC Purchases 26,016 Shares of Cintas Co. (NASDAQ:CTAS)

KCM Investment Advisors LLC increased its position in Cintas Co. (NASDAQ:CTAS) by 301.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,632 shares of the business services provider’s stock after acquiring an additional 26,016 shares during the period. KCM Investment Advisors LLC’s holdings in Cintas were worth $7,130,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CTAS. LGT Financial Advisors LLC grew its holdings in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares during the period. Financial Management Professionals Inc. grew its holdings in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management grew its holdings in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. purchased a new position in Cintas during the second quarter valued at $27,000. Finally, Addison Advisors LLC increased its position in Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Cintas stock traded down $2.78 during midday trading on Friday, reaching $214.27. 239,409 shares of the stock traded hands, compared to its average volume of 1,443,437. The stock’s fifty day moving average is $221.09 and its 200-day moving average is $194.94. Cintas Co. has a 12 month low of $136.50 and a 12 month high of $227.35. The stock has a market cap of $86.42 billion, a P/E ratio of 54.33, a PEG ratio of 4.40 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 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 EPS for the quarter, beating 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 analyst estimates of $2.49 billion. During the same period in the prior year, the company earned $3.70 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given 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 yield of 0.73%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research 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 research report on Thursday, September 26th. Morgan Stanley upped their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $199.63.

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.