Greenleaf Trust Has $1.86 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Greenleaf Trust lifted its position in Cintas Co. (NASDAQ:CTAS) by 349.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,018 shares of the business services provider’s stock after purchasing an additional 7,010 shares during the quarter. Greenleaf Trust’s holdings in Cintas were worth $1,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI bought a new position in shares of Cintas during the 3rd quarter worth about $271,000. Bank Pictet & Cie Europe AG raised its position in Cintas by 300.0% in the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Cintas during the third quarter worth about $1,120,000. Global X Japan Co. Ltd. boosted its holdings in Cintas by 251.6% during the third quarter. Global X Japan Co. Ltd. now owns 2,240 shares of the business services provider’s stock valued at $461,000 after purchasing an additional 1,603 shares in the last quarter. Finally, Liberty Capital Management Inc. grew its stake in shares of Cintas by 298.3% in the 3rd quarter. Liberty Capital Management Inc. now owns 49,376 shares of the business services provider’s stock valued at $10,166,000 after purchasing an additional 36,980 shares during the period. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CTAS shares. Redburn Atlantic assumed 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. Robert W. Baird upped their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group lifted their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays raised their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus boosted their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Down 0.9 %

Shares of NASDAQ CTAS opened at $209.71 on Thursday. The firm has a 50 day moving average price of $215.86 and a 200 day moving average price of $189.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a market cap of $21.28 billion, a P/E ratio of 14.48, a P/E/G ratio of 4.12 and a beta of 1.32. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $215.37.

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 for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 EPS. Analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has initiated a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.