6,916 Shares in Cintas Co. (NASDAQ:CTAS) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,916 shares of the business services provider’s stock, valued at approximately $1,424,000.

A number of other large investors have also recently made changes to their positions in CTAS. LGT Financial Advisors LLC raised its stake in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Cintas by 226.7% during the 2nd 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 during the period. Crewe Advisors LLC raised its position in shares of Cintas by 133.3% in the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after acquiring an additional 32 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Cintas in the 2nd quarter valued at approximately $51,000. Finally, Field & Main Bank boosted its position in shares of Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CTAS. Morgan Stanley raised their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Robert W. Baird upped their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Truist Financial lifted their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group boosted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two equities research 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, the stock presently has a consensus rating of “Hold” and an average price target of $200.77.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $211.22 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. The firm has a market cap of $85.19 billion, a price-to-earnings ratio of 53.34, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. The business has a 50-day simple moving average of $215.13 and a two-hundred day simple moving average of $202.15. Cintas Co. has a fifty-two week low of $138.39 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company earned $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were paid a $0.39 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

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.