Cintas Co. (NASDAQ:CTAS) Shares Bought by Sigma Planning Corp

Sigma Planning Corp boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 444.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,929 shares of the business services provider’s stock after acquiring an additional 2,391 shares during the period. Sigma Planning Corp’s holdings in Cintas were worth $603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CTAS. LGT Financial Advisors LLC grew its holdings in shares of 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 buying an additional 28 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Hollencrest Capital Management grew its holdings in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Cintas during the second quarter worth about $27,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the first quarter worth about $29,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $217.05 on Friday. The company has a market cap of $87.54 billion, a P/E ratio of 54.81, a PEG ratio of 4.43 and a beta of 1.32. 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 Co. has a one year low of $136.50 and a one year high of $227.35. The business’s 50-day simple moving average is $220.75 and its 200 day simple moving average is $194.79.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $3.70 EPS. On average, sell-side 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 authorized a share repurchase plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Cintas Dividend Announcement

The firm 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. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent research reports. Royal Bank of Canada lifted 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. Morgan Stanley boosted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Truist Financial boosted their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two research 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.