D.A. Davidson & CO. Has $3.34 Million Stake in Cintas Co. (NASDAQ:CTAS)

D.A. Davidson & CO. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 293.3% during the third quarter, HoldingsChannel reports. The fund owned 16,198 shares of the business services provider’s stock after buying an additional 12,079 shares during the period. D.A. Davidson & CO.’s holdings in Cintas were worth $3,335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTAS. LGT Financial Advisors LLC raised its holdings in shares of Cintas by 311.1% during the second 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 during the period. Financial Management Professionals Inc. raised its holdings in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management raised its holdings in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. bought a new position in Cintas in the second quarter valued at $27,000. Finally, Addison Advisors LLC grew its position in Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

CTAS stock opened at $224.05 on Friday. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $228.12. 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 has a market cap of $90.36 billion, a price-to-earnings ratio of 56.58, a P/E/G ratio of 4.41 and a beta of 1.32. The company has a 50 day simple moving average of $212.33 and a 200 day simple moving average of $198.50.

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. 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 analyst estimates of $2.49 billion. During the same period in the previous year, the firm posted $3.70 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of analyst reports. Barclays raised their target price 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. Jefferies Financial Group decreased their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. The Goldman Sachs Group raised their target price on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.63.

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.