Cintas Co. (NASDAQ:CTAS) Stock Position Raised by Avestar Capital LLC

Avestar Capital LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 317.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,511 shares of the business services provider’s stock after buying an additional 1,910 shares during the quarter. Avestar Capital LLC’s holdings in Cintas were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in Cintas by 36.8% in the first quarter. Janus Henderson Group PLC now owns 16,137 shares of the business services provider’s stock worth $11,081,000 after purchasing an additional 4,340 shares in the last quarter. Tidal Investments LLC grew its holdings in Cintas by 44.1% during the first quarter. Tidal Investments LLC now owns 6,916 shares of the business services provider’s stock valued at $4,751,000 after purchasing an additional 2,115 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of Cintas in the first quarter valued at approximately $312,000. LBP AM SA lifted its stake in shares of Cintas by 142.2% in the first quarter. LBP AM SA now owns 2,933 shares of the business services provider’s stock worth $2,015,000 after buying an additional 1,722 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its stake in Cintas by 3.2% in the 1st quarter. iA Global Asset Management Inc. now owns 11,368 shares of the business services provider’s stock valued at $7,810,000 after buying an additional 351 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Up 1.1 %

Shares of NASDAQ CTAS opened at $226.47 on Wednesday. The business has a fifty day moving average of $211.47 and a two-hundred day moving average of $198.14. 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 52-week low of $136.87 and a 52-week high of $228.12. The stock has a market cap of $91.34 billion, a PE ratio of 57.19, a PEG ratio of 4.41 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for 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 company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.70 earnings per share. As a group, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas’s dividend payout ratio is 39.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays raised their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Wells Fargo & Company raised their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. UBS Group increased their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.