Brown Brothers Harriman & Co. Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Brown Brothers Harriman & Co. grew its position in Cintas Co. (NASDAQ:CTAS) by 305.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,310 shares of the business services provider’s stock after buying an additional 7,012 shares during the period. Brown Brothers Harriman & Co.’s holdings in Cintas were worth $1,917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTAS. LGT Financial Advisors LLC increased its stake in Cintas by 311.1% during the second 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 last quarter. Financial Management Professionals Inc. increased its position in shares of Cintas by 341.4% during the 3rd 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 raised its holdings in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the period. Atwood & Palmer Inc. acquired a new position in Cintas in the second quarter valued at about $27,000. Finally, Addison Advisors LLC boosted its stake in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTAS. The Goldman Sachs Group upped their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Morgan Stanley boosted their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $223.90 on Tuesday. Cintas Co. has a one year low of $136.87 and a one year high of $227.35. The stock has a market capitalization of $90.30 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 4.37 and a beta of 1.32. The company has a 50-day simple moving average of $211.02 and a 200-day simple moving average of $197.78. 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 (NASDAQ:CTAS) 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business posted $3.70 EPS. The company’s revenue was up 6.8% on a year-over-year basis. On average, analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid 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 dividend yield of 0.70%. Cintas’s dividend payout ratio (DPR) is 39.39%.

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.