Garrison Asset Management LLC Has $371,000 Holdings in Cintas Co. (NASDAQ:CTAS)

Garrison Asset Management LLC boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 295.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,801 shares of the business services provider’s stock after purchasing an additional 1,346 shares during the period. Garrison Asset Management LLC’s holdings in Cintas were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its stake in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares in the last quarter. Field & Main Bank increased its holdings in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after buying an additional 15 shares during the period. Drive Wealth Management LLC raised its position in shares of Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after buying an additional 16 shares in the last quarter. Finally, TIAA Trust National Association lifted its holdings in shares of Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

NASDAQ CTAS traded up $1.25 during trading hours on Monday, hitting $206.87. 88,741 shares of the company’s stock traded hands, compared to its average volume of 1,448,061. Cintas Co. has a 52 week low of $128.92 and a 52 week high of $215.37. The firm has a market capitalization of $83.43 billion, a P/E ratio of 51.92, a P/E/G ratio of 4.05 and a beta of 1.32. 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 business’s fifty day moving average price is $217.75 and its two-hundred day moving average price is $192.01.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is currently 39.39%.

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

Analyst Ratings Changes

Several brokerages have commented on CTAS. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Stifel Nicolaus raised their price objective on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $199.63.

About Cintas

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.