FUKOKU MUTUAL LIFE INSURANCE Co Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,024 shares of the business services provider’s stock after acquiring an additional 1,518 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Cintas were worth $417,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC boosted its position 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 acquiring an additional 28 shares during the last quarter. Financial Management Professionals Inc. lifted its position in Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Hollencrest Capital Management boosted its stake in Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas in the 2nd quarter valued at $27,000. Finally, Addison Advisors LLC increased its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird upped their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Stifel Nicolaus lifted their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Barclays lifted their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $217.05 on Friday. Cintas Co. has a one year low of $136.50 and a one year high of $227.35. The stock has a market capitalization of $87.54 billion, a price-to-earnings ratio of 54.81, a PEG ratio of 4.40 and a beta of 1.32. The company has a 50-day simple moving average of $220.75 and a 200-day simple moving average of $194.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $3.70 EPS. On average, analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

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 given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. Cintas’s payout ratio is currently 39.39%.

Cintas declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.