Moors & Cabot Inc. Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Moors & Cabot Inc. boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 1,096.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,060 shares of the business services provider’s stock after buying an additional 8,303 shares during the quarter. Moors & Cabot Inc.’s holdings in Cintas were worth $1,865,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC boosted its stake 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 during the period. Financial Management Professionals Inc. lifted its position in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management increased its stake in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas in the 2nd quarter worth approximately $27,000. Finally, Addison Advisors LLC grew its stake in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CTAS shares. Robert W. Baird boosted their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note 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 report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Morgan Stanley boosted their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Up 0.4 %

CTAS opened at $218.75 on Thursday. The company has a market cap of $88.22 billion, a price-to-earnings ratio of 55.24, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The firm has a 50 day simple moving average of $210.05 and a 200 day simple moving average of $196.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $227.35.

Cintas (NASDAQ:CTAS) last posted 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 firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company 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 0.71%. Cintas’s payout ratio is 39.39%.

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.