CIBC World Markets Inc. Purchases 12,793 Shares of Cintas Corp. (CTAS)
CIBC World Markets Inc. boosted its position in Cintas Corp. (NASDAQ:CTAS) by 268.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,553 shares of the company’s stock after buying an additional 12,793 shares during the period. CIBC World Markets Inc.’s holdings in Cintas Corp. were worth $1,976,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of CTAS. Checchi Capital Advisers LLC raised its stake in shares of Cintas Corp. by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,376 shares of the company’s stock worth $135,000 after buying an additional 11 shares during the period. LS Investment Advisors LLC raised its stake in shares of Cintas Corp. by 12.3% in the second quarter. LS Investment Advisors LLC now owns 45,029 shares of the company’s stock worth $4,419,000 after buying an additional 4,924 shares during the period. Clarkston Capital Partners LLC raised its stake in shares of Cintas Corp. by 8.1% in the second quarter. Clarkston Capital Partners LLC now owns 295,432 shares of the company’s stock worth $28,991,000 after buying an additional 22,095 shares during the period. First American Bank raised its stake in shares of Cintas Corp. by 638.7% in the second quarter. First American Bank now owns 17,543 shares of the company’s stock worth $1,721,000 after buying an additional 15,168 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Cintas Corp. by 6.7% in the second quarter. Nisa Investment Advisors LLC now owns 53,196 shares of the company’s stock worth $5,220,000 after buying an additional 3,340 shares during the period. Institutional investors and hedge funds own 65.23% of the company’s stock.
Cintas Corp. (NASDAQ:CTAS) traded down 0.85% during midday trading on Wednesday, reaching $114.60. 717,548 shares of the company traded hands. The company has a market cap of $12.03 billion, a price-to-earnings ratio of 17.23 and a beta of 0.86. The company has a 50-day moving average price of $108.49 and a 200-day moving average price of $105.52. Cintas Corp. has a 12-month low of $80.00 and a 12-month high of $119.94.
Cintas Corp. (NASDAQ:CTAS) last posted its quarterly earnings data on Tuesday, September 27th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.18. Cintas Corp. had a return on equity of 24.60% and a net margin of 14.63%. The company earned $1.29 billion during the quarter. During the same period in the prior year, the company posted $0.93 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that Cintas Corp. will post $4.60 earnings per share for the current fiscal year.
The firm also recently disclosed an annual dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 4th will be given a $1.33 dividend. This represents a dividend yield of 1.23%. This is a boost from Cintas Corp.’s previous annual dividend of $1.05. The ex-dividend date of this dividend is Wednesday, November 2nd. Cintas Corp.’s dividend payout ratio is currently 20.24%.
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A number of analysts recently issued reports on the stock. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Cintas Corp. in a research note on Wednesday, September 28th. Nomura restated a “buy” rating and issued a $135.00 price target (up previously from $124.00) on shares of Cintas Corp. in a research note on Thursday, August 25th. Macquarie began coverage on shares of Cintas Corp. in a research note on Thursday, August 25th. They set a “neutral” rating and a $130.00 target price for the company. Zacks Investment Research upgraded shares of Cintas Corp. from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Thursday, November 24th. Finally, Morgan Stanley set a $87.00 target price on shares of Cintas Corp. and gave the company a “sell” rating in a research note on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $117.50.
Cintas Corp. Company Profile
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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