Cintas Co. (NASDAQ:CTAS) is Reik & CO. LLC’s 2nd Largest Position

Reik & CO. LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 296.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 245,873 shares of the business services provider’s stock after buying an additional 183,796 shares during the period. Cintas makes up about 12.0% of Reik & CO. LLC’s investment portfolio, making the stock its 2nd biggest position. Reik & CO. LLC’s holdings in Cintas were worth $50,620,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CTAS. LGT Financial Advisors LLC lifted its position in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Cintas by 341.4% in 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 period. Atwood & Palmer Inc. purchased a new stake in Cintas during the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas during the first quarter valued at approximately $29,000. Finally, Grove Bank & Trust lifted its position in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial increased their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Barclays increased their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. The Goldman Sachs Group increased their target price 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. Stifel Nicolaus increased their target price on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, UBS Group increased their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 1.2 %

NASDAQ:CTAS opened at $219.52 on Friday. The firm has a market capitalization of $88.53 billion, a P/E ratio of 55.43, a PEG ratio of 4.09 and a beta of 1.32. Cintas Co. has a 1-year low of $131.01 and a 1-year high of $219.87. The company’s fifty day moving average price is $218.46 and its 200-day moving average price is $192.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping 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 business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. As a group, equities research analysts anticipate 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. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas’s dividend payout ratio is presently 39.39%.

Cintas announced that its board has approved a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.