CreativeOne Wealth LLC Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

CreativeOne Wealth LLC raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 350.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,375 shares of the business services provider’s stock after acquiring an additional 11,959 shares during the period. CreativeOne Wealth LLC’s holdings in Cintas were worth $3,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Cintas by 355.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 374,624 shares of the business services provider’s stock valued at $77,128,000 after acquiring an additional 292,310 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Cintas by 295.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 34,351 shares of the business services provider’s stock worth $7,072,000 after buying an additional 25,675 shares in the last quarter. Freedom Investment Management Inc. raised its stake in shares of Cintas by 281.4% during the 3rd quarter. Freedom Investment Management Inc. now owns 5,508 shares of the business services provider’s stock worth $1,134,000 after buying an additional 4,064 shares in the last quarter. Cynosure Group LLC raised its stake in shares of Cintas by 255.5% during the 3rd quarter. Cynosure Group LLC now owns 1,902 shares of the business services provider’s stock worth $392,000 after buying an additional 1,367 shares in the last quarter. Finally, Townsquare Capital LLC raised its stake in shares of Cintas by 269.0% during the 3rd quarter. Townsquare Capital LLC now owns 27,431 shares of the business services provider’s stock worth $5,647,000 after buying an additional 19,997 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $224.05 on Thursday. The business’s fifty day moving average price is $211.92 and its two-hundred day moving average price is $198.32. The stock has a market cap of $90.36 billion, a PE ratio of 56.58, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a one year low of $136.87 and a one year high of $228.12.

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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm earned $3.70 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTAS. Robert W. Baird increased their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. 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. Barclays increased their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Finally, Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price 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.