Miller Investment Management LP Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Miller Investment Management LP grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, Holdings Channel reports. The fund owned 4,004 shares of the business services provider’s stock after buying an additional 3,003 shares during the quarter. Miller Investment Management LP’s holdings in Cintas were worth $824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Morse Asset Management Inc raised its position in shares of Cintas by 301.3% during the 3rd quarter. Morse Asset Management Inc now owns 21,309 shares of the business services provider’s stock valued at $4,387,000 after buying an additional 15,999 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in Cintas by 323.6% during the 3rd quarter. Motley Fool Asset Management LLC now owns 19,231 shares of the business services provider’s stock valued at $3,920,000 after buying an additional 14,691 shares during the period. IHT Wealth Management LLC lifted its position in Cintas by 307.1% in the third quarter. IHT Wealth Management LLC now owns 31,743 shares of the business services provider’s stock worth $6,534,000 after buying an additional 23,945 shares during the last quarter. Ingalls & Snyder LLC purchased a new position in Cintas during the third quarter worth $217,000. Finally, Integrated Wealth Concepts LLC increased its position in Cintas by 283.5% during the third quarter. Integrated Wealth Concepts LLC now owns 5,346 shares of the business services provider’s stock valued at $1,101,000 after acquiring an additional 3,952 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of Cintas stock opened at $222.65 on Wednesday. Cintas Co. has a one year low of $136.87 and a one year high of $228.12. The company has a market capitalization of $89.79 billion, a PE ratio of 56.22, a P/E/G ratio of 4.38 and a beta of 1.33. 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 company has a 50-day simple moving average of $213.49 and a two-hundred day simple moving average of $199.94.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company earned $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is presently 39.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group decreased their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Morgan Stanley increased their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average 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.