Cintas Corporation (CTAS) Position Boosted by Toronto Dominion Bank
Toronto Dominion Bank increased its position in Cintas Corporation (NASDAQ:CTAS) by 11.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 32,571 shares of the business services provider’s stock after purchasing an additional 3,278 shares during the period. Toronto Dominion Bank’s holdings in Cintas Corporation were worth $4,698,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its stake in Cintas Corporation by 6.0% in the 3rd quarter. New York State Common Retirement Fund now owns 352,700 shares of the business services provider’s stock worth $50,888,000 after purchasing an additional 20,100 shares during the period. Pitcairn Co. acquired a new position in Cintas Corporation in the 3rd quarter worth approximately $200,000. Swiss National Bank boosted its stake in Cintas Corporation by 1.1% in the 3rd quarter. Swiss National Bank now owns 481,848 shares of the business services provider’s stock worth $69,521,000 after purchasing an additional 5,400 shares during the period. Bank of Hawaii boosted its stake in Cintas Corporation by 16.7% in the 3rd quarter. Bank of Hawaii now owns 9,510 shares of the business services provider’s stock worth $1,372,000 after purchasing an additional 1,360 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Cintas Corporation by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 135,358 shares of the business services provider’s stock worth $19,529,000 after purchasing an additional 3,855 shares during the period. 66.73% of the stock is owned by hedge funds and other institutional investors.
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Cintas Corporation (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.18. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. Cintas Corporation had a net margin of 9.79% and a return on equity of 23.71%. Cintas Corporation’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. sell-side analysts forecast that Cintas Corporation will post 5.36 earnings per share for the current fiscal year.
The firm also recently declared an annual dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be issued a dividend of $1.62 per share. The ex-dividend date is Thursday, November 9th. This represents a dividend yield of 1.07%. This is an increase from Cintas Corporation’s previous annual dividend of $1.33. Cintas Corporation’s dividend payout ratio (DPR) is currently 31.89%.
A number of research firms recently commented on CTAS. BidaskClub raised shares of Cintas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $117.00 price objective (up previously from $107.00) on shares of Cintas Corporation in a research note on Tuesday, July 25th. William Blair reissued an “ourperform” rating on shares of Cintas Corporation in a research note on Wednesday, September 27th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Cintas Corporation in a research note on Wednesday, September 27th. Finally, Zacks Investment Research raised shares of Cintas Corporation from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $143.00.
About Cintas Corporation
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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