Westfield Capital Management Co. LP Boosts Stake in Cintas Co. (NASDAQ:CTAS)

Westfield Capital Management Co. LP lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 306.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,658 shares of the business services provider’s stock after purchasing an additional 46,503 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Cintas were worth $12,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. LGT Financial Advisors LLC boosted its stake in 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. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new position in shares of Cintas during the 1st quarter worth approximately $29,000. Meeder Asset Management Inc. increased its holdings in Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC increased its holdings in Cintas by 133.3% in the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 32 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS stock opened at $221.76 on Monday. The company has a market cap of $89.44 billion, a P/E ratio of 56.00, a PEG ratio of 4.36 and a beta of 1.32. The firm has a fifty day moving average price of $210.64 and a 200 day moving average price of $197.43. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $227.35.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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 return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the firm posted $3.70 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued 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 0.70%. Cintas’s payout ratio is currently 39.39%.

Analysts Set New Price Targets

CTAS has been the subject of a number of research analyst reports. UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Morgan Stanley lifted their price objective 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. Robert W. Baird upped their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their price target 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 stock. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Company 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.