FUKOKU MUTUAL LIFE INSURANCE Co Increases Holdings in Cintas Co. (NASDAQ:CTAS)

FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,024 shares of the business services provider’s stock after buying an additional 1,518 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Cintas were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CTAS. OneDigital Investment Advisors LLC boosted its position in Cintas by 278.0% in the third quarter. OneDigital Investment Advisors LLC now owns 6,646 shares of the business services provider’s stock worth $1,368,000 after purchasing an additional 4,888 shares during the last quarter. Oak Harbor Wealth Partners LLC lifted its stake in shares of Cintas by 300.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 2,548 shares of the business services provider’s stock worth $525,000 after purchasing an additional 1,911 shares during the period. ING Groep NV boosted its holdings in shares of Cintas by 1,158.6% in the third quarter. ING Groep NV now owns 169,961 shares of the business services provider’s stock worth $34,992,000 after buying an additional 156,457 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Cintas by 311.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,172 shares of the business services provider’s stock valued at $2,094,000 after buying an additional 7,697 shares during the period. Finally, Metis Global Partners LLC raised its position in Cintas by 315.1% in the third quarter. Metis Global Partners LLC now owns 14,577 shares of the business services provider’s stock worth $3,001,000 after acquiring an additional 11,065 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 2.9 %

CTAS opened at $217.05 on Friday. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35. The company has a market capitalization of $87.54 billion, a P/E ratio of 54.81, a PEG ratio of 4.40 and a beta of 1.32. The stock’s fifty day moving average is $220.75 and its two-hundred day moving average is $194.79. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share 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 firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has initiated a stock repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is presently 39.39%.

Analysts Set New Price Targets

A number of research firms have commented on CTAS. The Goldman Sachs Group raised their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus upped their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Barclays lifted their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group cut their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.