Mutual of America Capital Management LLC Purchases 31,319 Shares of Cintas Co. (NASDAQ:CTAS)

Mutual of America Capital Management LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 287.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,198 shares of the business services provider’s stock after acquiring an additional 31,319 shares during the period. Mutual of America Capital Management LLC’s holdings in Cintas were worth $8,688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LGT Financial Advisors LLC grew its position in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares during the period. Financial Management Professionals Inc. grew its position in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management grew its position in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Cintas in the 2nd quarter valued at about $27,000. Finally, Addison Advisors LLC grew its position in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. UBS Group raised their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Finally, 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $216.20 on Tuesday. The firm has a 50 day moving average of $221.79 and a 200-day moving average of $196.06. The stock has a market capitalization of $87.19 billion, a PE ratio of 54.60, a PEG ratio of 4.24 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. Cintas Co. has a 12 month low of $136.50 and a 12 month high of $227.35.

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

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given 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 payout ratio is presently 39.39%.

Cintas declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.