Cintas Co. (NASDAQ:CTAS) Shares Purchased by Freedom Investment Management Inc.

Freedom Investment Management Inc. raised its holdings in Cintas Co. (NASDAQ:CTAS) by 281.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,508 shares of the business services provider’s stock after acquiring an additional 4,064 shares during the period. Freedom Investment Management Inc.’s holdings in Cintas were worth $1,134,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. FMR LLC increased its holdings in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after acquiring an additional 1,648,350 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Cintas by 293.2% during the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after acquiring an additional 1,419,975 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Cintas by 258.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock valued at $390,127,000 after acquiring an additional 1,365,825 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt boosted its position in shares of 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 acquiring an additional 1,222,500 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the topic of a number of analyst reports. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Wells Fargo & Company increased their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Morgan Stanley lifted their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Jefferies Financial Group lowered their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a 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 report on Thursday, September 26th. Two equities research 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 company currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Down 1.1 %

Cintas stock opened at $224.05 on Thursday. The firm has a market capitalization of $90.36 billion, a P/E ratio of 56.58, a P/E/G ratio of 4.41 and a beta of 1.32. 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 twelve month low of $136.87 and a twelve month high of $228.12. The stock’s fifty day simple moving average is $211.92 and its 200-day simple moving average is $198.32.

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, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the company earned $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company 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 dividend of $0.39 per share. 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 (DPR) is presently 39.39%.

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.