Cintas Co. (NASDAQ:CTAS) Shares Acquired by Haverford Trust Co

Haverford Trust Co increased its holdings in Cintas Co. (NASDAQ:CTAS) by 298.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,568 shares of the business services provider’s stock after acquiring an additional 1,923 shares during the quarter. Haverford Trust Co’s holdings in Cintas were worth $529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTAS. LGT Financial Advisors LLC lifted its position in Cintas by 311.1% during the 2nd 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. raised its stake in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Hollencrest Capital Management lifted its holdings in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the period. Atwood & Palmer Inc. purchased a new position in Cintas in the 2nd quarter valued at $27,000. Finally, Addison Advisors LLC increased its stake in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTAS shares. The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Truist Financial upped 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. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Down 2.9 %

CTAS opened at $217.05 on Friday. The company has a market cap of $87.54 billion, a PE ratio of 54.81, a price-to-earnings-growth ratio of 4.43 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 1 year low of $136.50 and a 1 year high of $227.35. The firm has a 50 day moving average price of $220.75 and a 200 day moving average price of $194.79.

Cintas (NASDAQ:CTAS) last released 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 company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. Sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Cintas announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.