Gulf International Bank UK Ltd Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

Gulf International Bank UK Ltd lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 282.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,896 shares of the business services provider’s stock after buying an additional 21,331 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Cintas were worth $5,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Checchi Capital Advisers LLC increased its stake in shares of Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after acquiring an additional 14 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank boosted its position in shares of Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares in the last quarter. Drive Wealth Management LLC boosted its position in shares of Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after purchasing an additional 16 shares in the last quarter. Finally, TIAA Trust National Association grew its stake in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after buying an additional 16 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $208.99 on Wednesday. The business’s 50-day moving average is $218.11 and its 200 day moving average is $192.62. Cintas Co. has a 12 month low of $128.92 and a 12 month high of $215.37. The company has a market capitalization of $84.29 billion, a P/E ratio of 52.78, a P/E/G ratio of 4.05 and a beta of 1.32. 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) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm earned $3.70 earnings per share. Cintas’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has initiated a share buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley lifted their target price 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. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Jefferies Financial Group reduced their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Finally, Robert W. Baird increased their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.