OneDigital Investment Advisors LLC Buys 4,888 Shares of Cintas Co. (NASDAQ:CTAS)

OneDigital Investment Advisors LLC lifted its position in Cintas Co. (NASDAQ:CTAS) by 278.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,646 shares of the business services provider’s stock after buying an additional 4,888 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Cintas were worth $1,368,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Atria Investments Inc increased its stake in Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after acquiring an additional 16,623 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after purchasing an additional 86,460 shares during the last quarter. Creative Planning raised its stake in Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Western Financial Corp CA lifted its position in Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after purchasing an additional 10,177 shares during the last quarter. Finally, Portside Wealth Group LLC grew its stake in Cintas by 361.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock worth $287,000 after buying an additional 1,093 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTAS. UBS Group lifted their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Truist Financial boosted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada increased 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. Two 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Trading Up 0.5 %

NASDAQ CTAS opened at $216.20 on Tuesday. The stock has a market cap of $87.19 billion, a P/E ratio of 54.60, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. Cintas Co. has a fifty-two week low of $136.50 and a fifty-two week high of $227.35. The stock has a 50 day simple moving average of $221.79 and a two-hundred day simple moving average of $196.06. 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 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. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.70 EPS. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

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

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

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.