Wealthquest Corp raised its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 285.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,848 shares of the business services provider's stock after purchasing an additional 11,000 shares during the period. Cintas makes up about 0.3% of Wealthquest Corp's portfolio, making the stock its 29th largest holding. Wealthquest Corp's holdings in Cintas were worth $3,027,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its position in shares of Cintas by 17.8% in the second quarter. Sequoia Financial Advisors LLC now owns 1,282 shares of the business services provider's stock worth $898,000 after purchasing an additional 194 shares during the period. Blue Trust Inc. raised its position in shares of Cintas by 269.4% in the 2nd quarter. Blue Trust Inc. now owns 410 shares of the business services provider's stock valued at $282,000 after buying an additional 299 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new stake in shares of Cintas during the 2nd quarter worth approximately $15,236,000. Unique Wealth LLC acquired a new stake in shares of Cintas during the 2nd quarter worth approximately $246,000. Finally, Sumitomo Life Insurance Co. increased its stake in Cintas by 35.3% in the second quarter. Sumitomo Life Insurance Co. now owns 4,290 shares of the business services provider's stock valued at $3,004,000 after acquiring an additional 1,119 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.
Shares of CTAS opened at $210.97 on Thursday. The stock's 50-day moving average price is $214.74 and its two-hundred day moving average price is $201.49. Cintas Co. has a 12 month low of $138.39 and a 12 month high of $228.12. The company has a market capitalization of $85.08 billion, a PE ratio of 53.28, a PEG ratio of 4.41 and a beta of 1.33. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.
Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating 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 period in the prior year, the business posted $3.70 earnings per share. The firm's revenue was up 6.8% on a year-over-year basis. On average, analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio is presently 39.39%.
Several research firms have weighed in on CTAS. Robert W. Baird upped 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. 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 report on Thursday, September 26th. Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Royal Bank of Canada increased their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $199.63.
Get Our Latest Research Report on Cintas
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Cintas, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cintas wasn't on the list.
While Cintas currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.