Sheaff Brock Investment Advisors LLC Purchases 8,776 Shares of Cintas Co. (NASDAQ:CTAS)

by · The Markets Daily

Sheaff Brock Investment Advisors LLC lifted its stake in Cintas Co. (NASDAQ:CTAS – Free Report) by 260.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,148 shares of the business services provider’s stock after purchasing an additional 8,776 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Cintas were worth $2,501,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Impax Asset Management Group plc increased its holdings in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 shares during the period. Alecta Tjanstepension Omsesidigt grew its stake in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares during the period. Los Angeles Capital Management LLC grew its stake in Cintas by 211.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock valued at $234,826,000 after acquiring an additional 774,551 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Cintas by 291.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock valued at $183,110,000 after acquiring an additional 662,431 shares during the period. Finally, Congress Asset Management Co. grew its stake in Cintas by 295.6% in the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after acquiring an additional 586,271 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Price Performance

Shares of CTAS opened at $217.08 on Friday. The firm has a market cap of $87.55 billion, a price-to-earnings ratio of 54.81, a PEG ratio of 4.40 and a beta of 1.32. The stock has a 50 day moving average of $220.75 and a 200-day moving average of $194.79. 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 Co. has a 52 week low of $136.50 and a 52 week high of $227.35.

Cintas (NASDAQ:CTAS – Get Free Report) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.70 EPS. As a group, analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

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 given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is 39.39%.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays lifted their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. UBS Group lifted their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group lowered 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. The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird boosted 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. Two investment 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $199.63.

Get Our Latest Stock Analysis on CTAS

Cintas Company Profile

(Free Report)

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.

See Also

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