Commerce Bank Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Commerce Bank raised its stake in Cintas Co. (NASDAQ:CTAS) by 279.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,432 shares of the business services provider’s stock after buying an additional 36,388 shares during the period. Commerce Bank’s holdings in Cintas were worth $10,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTAS. Bessemer Group Inc. boosted its position in Cintas by 88.8% during the first quarter. Bessemer Group Inc. now owns 3,864 shares of the business services provider’s stock worth $2,656,000 after purchasing an additional 1,817 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in Cintas by 41.1% in the 1st quarter. Lake Street Advisors Group LLC now owns 515 shares of the business services provider’s stock valued at $354,000 after acquiring an additional 150 shares during the last quarter. Natixis purchased a new position in Cintas during the 1st quarter valued at about $346,000. LGT Group Foundation purchased a new position in Cintas during the 1st quarter valued at about $170,000. Finally, Wellington Wealth Strategies LLC. purchased a new position in Cintas during the 1st quarter valued at about $212,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 0.4 %

Shares of CTAS opened at $218.75 on Thursday. The firm has a market cap of $88.22 billion, a PE ratio of 55.24, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average is $210.05 and its two-hundred day moving average is $196.56. 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, 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 firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the business earned $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts forecast that Cintas Co. will post 4.23 earnings per share for the current 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 given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CTAS. Barclays raised their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Truist Financial boosted their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group increased their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada upped their target price 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. Finally, Morgan Stanley lifted their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.