Kingsview Wealth Management LLC Acquires 3,878 Shares of Cintas Co. (NASDAQ:CTAS)

Kingsview Wealth Management LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 389.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,874 shares of the business services provider’s stock after purchasing an additional 3,878 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Cintas were worth $1,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. LGT Financial Advisors LLC increased its position in 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 buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Cintas by 341.4% during the 3rd 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 in the last quarter. Hollencrest Capital Management increased its holdings in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 104 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas in the 2nd quarter valued at approximately $27,000. Finally, Addison Advisors LLC lifted its holdings in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.1 %

CTAS opened at $226.47 on Wednesday. The company has a market capitalization of $91.34 billion, a P/E ratio of 57.19, a P/E/G ratio of 4.37 and a beta of 1.32. 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 firm’s fifty day moving average price is $211.47 and its two-hundred day moving average price is $198.14. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last issued its earnings results 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 business 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 business earned $3.70 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. On average, analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas’s payout ratio is presently 39.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CTAS shares. Morgan Stanley increased their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group decreased their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Finally, Truist Financial lifted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Two 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. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price 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.