Aberdeen Wealth Management LLC Buys 3,035 Shares of Cintas Co. (NASDAQ:CTAS)

Aberdeen Wealth Management LLC boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 290.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,080 shares of the business services provider’s stock after buying an additional 3,035 shares during the period. Aberdeen Wealth Management LLC’s holdings in Cintas were worth $840,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LGT Financial Advisors LLC raised its stake in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares during the period. Financial Management Professionals Inc. raised its position in 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. Hollencrest Capital Management raised its position in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the period. Atwood & Palmer Inc. bought a new stake in Cintas in the second quarter worth about $27,000. Finally, Addison Advisors LLC boosted its position in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after buying an additional 114 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTAS. Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Truist Financial lifted their target price 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 upped their price target 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. The Goldman Sachs Group lifted their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Barclays upped their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $216.20 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $87.19 billion, a price-to-earnings ratio of 54.60, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The firm has a 50 day moving average of $221.79 and a 200 day moving average of $196.06. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35.

Cintas (NASDAQ:CTAS) last issued 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is currently 39.39%.

Cintas announced that its board has approved a share buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About 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.