Peapack Gladstone Financial Corp Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Peapack Gladstone Financial Corp increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 297.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,932 shares of the business services provider’s stock after acquiring an additional 2,942 shares during the period. Peapack Gladstone Financial Corp’s holdings in Cintas were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Cintas by 269.4% in the 2nd quarter. Blue Trust Inc. now owns 410 shares of the business services provider’s stock valued at $282,000 after acquiring an additional 299 shares in the last quarter. Raymond James & Associates increased its position in shares of Cintas by 5.9% in the second quarter. Raymond James & Associates now owns 119,409 shares of the business services provider’s stock worth $83,617,000 after purchasing an additional 6,611 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Cintas by 2.2% in the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after purchasing an additional 838 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Cintas by 9.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 17,545 shares of the business services provider’s stock valued at $12,286,000 after purchasing an additional 1,462 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in Cintas by 119.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 235 shares of the business services provider’s stock worth $165,000 after buying an additional 128 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $211.22 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market cap of $85.18 billion, a price-to-earnings ratio of 53.34, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. Cintas Co. has a 12 month low of $138.39 and a 12 month high of $228.12. The company has a 50-day moving average price of $215.13 and a 200-day moving average price of $202.40.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share 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 quarter last year, the business posted $3.70 EPS. The business’s revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, November 15th. Cintas’s payout ratio is currently 39.39%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CTAS shares. Morgan Stanley raised their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday. Wells Fargo & Company raised their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Royal Bank of Canada upped their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Robert W. Baird raised their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Finally, UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $200.77.

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.