Falcon Wealth Planning Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Falcon Wealth Planning boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 295.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,396 shares of the business services provider’s stock after purchasing an additional 2,538 shares during the period. Falcon Wealth Planning’s holdings in Cintas were worth $699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC grew its stake in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. boosted its holdings in shares of Cintas by 341.4% in 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 during the last quarter. Atwood & Palmer Inc. bought a new stake in Cintas during the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the first quarter worth approximately $29,000. Finally, Grove Bank & Trust boosted its stake in shares of Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $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.

Cintas Price Performance

Shares of CTAS traded up $2.22 during midday trading on Tuesday, hitting $209.78. 181,369 shares of the company traded hands, compared to its average volume of 1,445,507. Cintas Co. has a 52 week low of $128.92 and a 52 week high of $215.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a 50 day moving average of $217.93 and a 200-day moving average of $192.31. The stock has a market cap of $84.60 billion, a price-to-earnings ratio of 52.41, a PEG ratio of 4.05 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 EPS. On average, analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has approved a share repurchase program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Analyst Ratings Changes

CTAS has been the subject of several analyst reports. Robert W. Baird upped their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Stifel Nicolaus upped their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Morgan Stanley lifted their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Royal Bank of Canada increased their target price 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. Finally, Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

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.