KBC Group NV Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

KBC Group NV increased its holdings in Cintas Co. (NASDAQ:CTAS) by 312.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,264 shares of the business services provider’s stock after buying an additional 48,670 shares during the quarter. KBC Group NV’s holdings in Cintas were worth $13,230,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. TIAA Trust National Association increased its stake in shares of Cintas by 12.5% in the 1st quarter. TIAA Trust National Association now owns 1,347 shares of the business services provider’s stock worth $925,000 after purchasing an additional 150 shares in the last quarter. Allstate Corp bought a new position in shares of Cintas in the first quarter worth about $205,000. Edgestream Partners L.P. purchased a new position in shares of Cintas during the 1st quarter valued at about $972,000. Jacobi Capital Management LLC bought a new position in shares of Cintas during the 1st quarter valued at approximately $321,000. Finally, Cynosure Group LLC purchased a new stake in Cintas in the 1st quarter worth approximately $343,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 0.7 %

CTAS stock opened at $215.20 on Friday. The company has a market capitalization of $86.79 billion, a PE ratio of 54.34, a P/E/G ratio of 4.40 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. Cintas Co. has a 12 month low of $136.50 and a 12 month high of $227.35. The firm’s 50-day moving average is $221.49 and its 200 day moving average is $195.28.

Cintas (NASDAQ:CTAS) last posted its quarterly 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. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 earnings per share. On average, research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has approved a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is 39.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTAS shares. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird upped their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. The Goldman Sachs Group upped their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas 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.