Creative Financial Designs Inc. ADV Purchases 834 Shares of Cintas Co. (NASDAQ:CTAS)

Creative Financial Designs Inc. ADV lifted its position in Cintas Co. (NASDAQ:CTAS) by 286.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,125 shares of the business services provider’s stock after buying an additional 834 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Cintas were worth $232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CTAS. Alecta Tjanstepension Omsesidigt increased its position in Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. Congress Asset Management Co. boosted its stake in shares of Cintas by 295.6% during the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after purchasing an additional 586,271 shares in the last quarter. Legal & General Group Plc increased its holdings in Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after buying an additional 3,471 shares during the period. Bank Pictet & Cie Europe AG raised its stake in Cintas by 300.0% in the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after buying an additional 383,124 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after buying an additional 486,500 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. The Goldman Sachs Group boosted their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Jefferies Financial Group lowered their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Finally, 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. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Down 0.1 %

Shares of CTAS stock opened at $205.62 on Monday. 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 fifty-two week low of $126.74 and a fifty-two week high of $215.37. The firm has a market capitalization of $82.93 billion, a PE ratio of 51.92, a P/E/G ratio of 4.05 and a beta of 1.32. The stock’s 50-day simple moving average is $217.75 and its 200-day simple moving average is $192.01.

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

Cintas Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio is presently 39.39%.

Cintas declared that its board has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board 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.