Woodmont Investment Counsel LLC Has $1.62 Million Position in Cintas Co. (NASDAQ:CTAS)

Woodmont Investment Counsel LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,888 shares of the business services provider’s stock after buying an additional 5,916 shares during the period. Woodmont Investment Counsel LLC’s holdings in Cintas were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. LGT Financial Advisors LLC raised its position in shares of Cintas by 311.1% in the 2nd 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 approximately $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas in the 1st quarter valued at $29,000. Meeder Asset Management Inc. boosted its stake in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings in Cintas by 133.3% in the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after purchasing an additional 32 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group upped their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted 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. UBS Group lifted their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Up 3.8 %

NASDAQ:CTAS opened at $217.02 on Thursday. The company has a market cap of $87.52 billion, a P/E ratio of 54.80, a P/E/G ratio of 4.05 and a beta of 1.32. Cintas Co. has a 1 year low of $129.15 and a 1 year high of $217.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock’s fifty day moving average price is $218.46 and its two-hundred day moving average price is $192.79.

Cintas (NASDAQ:CTAS) last posted its earnings results 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 business had revenue of $2.50 billion for 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%. Cintas’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.70 EPS. As a group, analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.72%. Cintas’s payout ratio is presently 39.39%.

Cintas declared that its board has approved a share 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 usually an indication that the company’s leadership believes its shares are 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.