Cintas Co. (NASDAQ:CTAS) Shares Bought by Dakota Wealth Management

Dakota Wealth Management grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 227.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,140 shares of the business services provider’s stock after purchasing an additional 63,275 shares during the quarter. Dakota Wealth Management owned approximately 0.09% of Cintas worth $18,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% in the 2nd 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. acquired a new position in shares of Cintas in the 2nd quarter valued at $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 holdings in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the period. Finally, Webster Bank N. A. acquired a new position in shares of Cintas in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 0.3 %

Cintas stock opened at $209.13 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a market capitalization of $21.22 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. Cintas Co. has a fifty-two week low of $123.65 and a fifty-two week high of $215.37. The stock’s fifty day moving average is $215.86 and its two-hundred day moving average is $189.89.

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

Cintas announced that its board has approved 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 buy up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CTAS shares. UBS Group lifted their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays lifted 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 company a “neutral” rating in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Finally, Royal Bank of Canada lifted their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two 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. According to data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Company 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.