Mizuho Securities USA LLC Acquires 254,607 Shares of Cintas Co. (NASDAQ:CTAS)

Mizuho Securities USA LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 3,834.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 261,247 shares of the business services provider’s stock after purchasing an additional 254,607 shares during the period. Mizuho Securities USA LLC’s holdings in Cintas were worth $53,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Orion Portfolio Solutions LLC lifted its stake in Cintas by 6.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 5,567 shares of the business services provider’s stock valued at $3,825,000 after purchasing an additional 341 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Cintas by 1.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 84,856 shares of the business services provider’s stock valued at $58,136,000 after acquiring an additional 1,182 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Cintas by 7.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 14,277 shares of the business services provider’s stock worth $9,809,000 after purchasing an additional 954 shares in the last quarter. TIAA Trust National Association raised its position in Cintas by 12.5% in the first quarter. TIAA Trust National Association now owns 1,347 shares of the business services provider’s stock valued at $925,000 after purchasing an additional 150 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Cintas by 30.8% during the first quarter. Acadian Asset Management LLC now owns 320,070 shares of the business services provider’s stock valued at $219,865,000 after purchasing an additional 75,454 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of a number of research reports. 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 report on Thursday, September 26th. Robert W. Baird raised their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Royal Bank of Canada raised their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Finally, Barclays increased their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Trading Down 0.7 %

Shares of Cintas stock opened at $215.20 on Friday. 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 Co. has a 52 week low of $136.50 and a 52 week high of $227.35. The stock has a 50 day moving average price of $221.49 and a two-hundred day moving average price of $195.28. The stock has a market capitalization of $86.79 billion, a PE ratio of 54.34, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS 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 firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business posted $3.70 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts anticipate 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. Investors 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 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Cintas announced that its Board of Directors has approved a share buyback plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Cintas 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.