Cypress Capital Group Grows Position in Cintas Co. (NASDAQ:CTAS)

Cypress Capital Group lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 298.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,900 shares of the business services provider’s stock after buying an additional 2,922 shares during the period. Cypress Capital Group’s holdings in Cintas were worth $803,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Landscape Capital Management L.L.C. boosted its position in Cintas by 367.6% in the third quarter. Landscape Capital Management L.L.C. now owns 7,253 shares of the business services provider’s stock worth $1,493,000 after purchasing an additional 5,702 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Cintas by 1,173.0% during the 3rd quarter. Intech Investment Management LLC now owns 125,214 shares of the business services provider’s stock valued at $25,779,000 after buying an additional 115,378 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Cintas by 276.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 511,575 shares of the business services provider’s stock valued at $105,323,000 after buying an additional 375,790 shares in the last quarter. King Luther Capital Management Corp raised its stake in Cintas by 293.2% during the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after purchasing an additional 1,419,975 shares during the period. Finally, Cornerstone Advisors LLC raised its stake in Cintas by 351.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 14,000 shares of the business services provider’s stock valued at $2,882,000 after purchasing an additional 10,900 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley lifted their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Two investment 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’s stock. Based on data from MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Performance

NASDAQ CTAS opened at $221.63 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $210.36 and its two-hundred day moving average is $196.74. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $227.35. The stock has a market capitalization of $89.38 billion, a price-to-earnings ratio of 55.97, a PEG ratio of 4.29 and a beta of 1.32.

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

Cintas Dividend Announcement

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 issued 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 payout ratio is 39.39%.

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.