Raymond James Trust N.A. Purchases 5,773 Shares of Cintas Co. (NASDAQ:CTAS)

Raymond James Trust N.A. boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 263.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,964 shares of the business services provider’s stock after acquiring an additional 5,773 shares during the quarter. Raymond James Trust N.A.’s holdings in Cintas were worth $1,640,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Natixis purchased a new stake in shares of Cintas during the first quarter worth about $346,000. Canada Pension Plan Investment Board lifted its holdings in Cintas by 96.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 40,910 shares of the business services provider’s stock worth $28,106,000 after buying an additional 20,050 shares during the period. LRI Investments LLC bought a new stake in shares of Cintas in the 1st quarter worth approximately $126,000. Mount Yale Investment Advisors LLC increased its stake in shares of Cintas by 14.6% during the first quarter. Mount Yale Investment Advisors LLC now owns 1,229 shares of the business services provider’s stock valued at $844,000 after buying an additional 157 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Cintas by 36.8% during the first quarter. Janus Henderson Group PLC now owns 16,137 shares of the business services provider’s stock valued at $11,081,000 after acquiring an additional 4,340 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $221.76 on Friday. The company has a market capitalization of $89.44 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. 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 one year low of $136.87 and a one year high of $227.35. The company’s 50-day moving average is $210.64 and its 200 day moving average is $197.26.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the company posted $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. 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. UBS Group increased their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group decreased their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research 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 stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $199.63.

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.