KCM Investment Advisors LLC Raises Position in Cintas Co. (NASDAQ:CTAS)

KCM Investment Advisors LLC lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 301.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,632 shares of the business services provider’s stock after buying an additional 26,016 shares during the quarter. KCM Investment Advisors LLC’s holdings in Cintas were worth $7,130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTAS. LGT Financial Advisors LLC raised 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 buying an additional 28 shares during the period. Financial Management Professionals Inc. raised 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 buying an additional 99 shares during the period. Hollencrest Capital Management raised 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 buying an additional 104 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the second quarter worth approximately $27,000. Finally, Addison Advisors LLC raised its holdings in shares of 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 during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 1.3 %

Shares of Cintas stock traded down $2.78 during trading on Friday, reaching $214.27. The company’s stock had a trading volume of 239,409 shares, compared to its average volume of 1,443,437. 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 $86.42 billion, a price-to-earnings ratio of 54.33, a P/E/G ratio of 4.40 and a beta of 1.32. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35. The company has a 50-day simple moving average of $221.09 and a two-hundred day simple moving average of $194.94.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during 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% on a year-over-year basis. During the same quarter last year, the firm earned $3.70 EPS. As a group, equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

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

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.73%. Cintas’s payout ratio is 39.39%.

Analyst Upgrades and Downgrades

CTAS has been the topic of several research reports. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Truist Financial raised their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Barclays raised their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group raised their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report 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 assigned a buy rating to the company. According to MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $199.63.

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.