Atlas Capital Advisors LLC purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 200 shares of the business services provider’s stock, valued at approximately $54,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cintas by 4.0% in the second quarter. Vanguard Group Inc. now owns 10,033,781 shares of the business services provider’s stock valued at $2,380,916,000 after acquiring an additional 382,578 shares during the period. BlackRock Inc. boosted its position in shares of Cintas by 2.3% in the second quarter. BlackRock Inc. now owns 5,741,865 shares of the business services provider’s stock valued at $1,362,486,000 after acquiring an additional 129,625 shares during the period. Invesco Ltd. boosted its position in shares of Cintas by 41.1% in the second quarter. Invesco Ltd. now owns 3,146,487 shares of the business services provider’s stock valued at $746,630,000 after acquiring an additional 916,169 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Cintas by 11.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,337,285 shares of the business services provider’s stock valued at $317,324,000 after acquiring an additional 136,868 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Cintas by 0.5% in the second quarter. Northern Trust Corp now owns 1,034,141 shares of the business services provider’s stock valued at $245,392,000 after acquiring an additional 4,992 shares during the period. Institutional investors own 67.04% of the company’s stock.

Several equities research analysts have recently weighed in on CTAS shares. Royal Bank of Canada increased their price objective on Cintas from $267.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Nomura increased their price objective on Cintas from $217.00 to $248.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Credit Suisse Group increased their price objective on Cintas from $195.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Barclays set a $295.00 price objective on Cintas and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Stifel Nicolaus increased their price objective on Cintas from $226.00 to $256.00 and gave the company a “hold” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Cintas has an average rating of “Hold” and a consensus target price of $262.40.

In related news, CAO Michael Lawrence Thompson sold 2,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $268.23, for a total value of $536,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 62,906 shares of the company’s stock, valued at $16,873,276.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.90% of the stock is owned by company insiders.

Shares of CTAS stock opened at $260.88 on Friday. The stock has a market cap of $27.63 billion, a P/E ratio of 34.33, a price-to-earnings-growth ratio of 3.00 and a beta of 0.99. Cintas Co. has a one year low of $155.98 and a one year high of $277.85. The stock has a fifty day moving average price of $265.44 and a 200 day moving average price of $247.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.74.

Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 24th. The business services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.15 by $0.17. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Cintas had a return on equity of 28.61% and a net margin of 13.18%. Cintas’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $1.93 earnings per share. Equities research analysts anticipate that Cintas Co. will post 8.57 EPS for the current year.

The company also recently announced an annual dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a $2.55 dividend. The ex-dividend date is Thursday, November 7th. Cintas’s dividend payout ratio (DPR) is currently 26.97%.

Cintas declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Cintas Company Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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