Dearborn Partners LLC Purchases 146,777 Shares of Cintas Co. (NASDAQ:CTAS)

Dearborn Partners LLC increased its position in Cintas Co. (NASDAQ:CTAS) by 292.2% in the 3rd quarter, Holdings Channel reports. The firm owned 197,002 shares of the business services provider’s stock after buying an additional 146,777 shares during the quarter. Cintas comprises approximately 1.6% of Dearborn Partners LLC’s investment portfolio, making the stock its 20th biggest position. Dearborn Partners LLC’s holdings in Cintas were worth $40,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC raised 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 acquiring an additional 28 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas during the 2nd quarter worth about $27,000. Pathway Financial Advisers LLC bought a new position in Cintas during the 1st quarter valued at about $29,000. Meeder Asset Management Inc. boosted its position in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after buying an additional 34 shares in the last quarter. Finally, Crewe Advisors LLC grew its stake in Cintas by 133.3% during the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CTAS shares. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Morgan Stanley increased their price objective 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. Truist Financial boosted their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada increased their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group dropped their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

CTAS opened at $217.05 on Friday. The company has a fifty day simple moving average of $220.75 and a 200 day simple moving average of $194.79. 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 stock has a market cap of $87.54 billion, a P/E ratio of 54.81, a P/E/G ratio of 4.40 and a beta of 1.32. Cintas Co. has a 12 month low of $136.50 and a 12 month high of $227.35.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping 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 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 business earned $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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

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.