RIA Advisory Group LLC Acquires Shares of 3,821 Cintas Co. (NASDAQ:CTAS)

RIA Advisory Group LLC bought a new position in Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,821 shares of the business services provider’s stock, valued at approximately $787,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC boosted its holdings in shares of Cintas by 311.1% during 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 during the period. Atwood & Palmer Inc. bought a new stake in shares of Cintas during the 2nd quarter worth $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas in the 1st quarter valued at $29,000. Meeder Asset Management Inc. increased its position in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares in the last quarter. Finally, Crewe Advisors LLC grew its position in Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Robert W. Baird upped their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Redburn Atlantic initiated coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Finally, UBS Group increased their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Down 0.7 %

Shares of Cintas stock opened at $215.20 on Friday. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35. 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 50 day moving average price of $221.49 and a two-hundred day moving average price of $195.28. The stock has a market capitalization of $86.79 billion, a P/E ratio of 54.34, a PEG ratio of 4.40 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.70 EPS. Equities analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued 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 dividend payout ratio (DPR) is currently 39.39%.

Cintas announced that its board has authorized a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management 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.