Fiduciary Trust Co Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Fiduciary Trust Co grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,616 shares of the business services provider’s stock after acquiring an additional 4,962 shares during the quarter. Fiduciary Trust Co’s holdings in Cintas were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. LGT Financial Advisors LLC increased its holdings 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. Atwood & Palmer Inc. purchased 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 worth approximately $29,000. Meeder Asset Management Inc. lifted its stake in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC grew its holdings in Cintas by 133.3% during the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 32 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $225.79 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $212.76 and a 200-day moving average price of $198.87. The company has a market cap of $91.06 billion, a PE ratio of 57.02, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during 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 for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.70 earnings per share. As a group, equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared 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 is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas’s payout ratio is 39.39%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research reports. UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group upped their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. 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 report on Thursday, September 26th. Finally, Robert W. Baird raised 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.