Prospera Financial Services Inc Has $7.14 Million Stake in Cintas Co. (NASDAQ:CTAS)

Prospera Financial Services Inc lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 3,812.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,668 shares of the business services provider’s stock after purchasing an additional 33,782 shares during the period. Prospera Financial Services Inc’s holdings in Cintas were worth $7,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its position in shares of Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after acquiring an additional 14 shares during the period. Axxcess Wealth Management LLC increased its holdings in shares of Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after purchasing an additional 14 shares during the period. Field & Main Bank raised its position in shares of Cintas by 25.0% in the second 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 in the last quarter. Drive Wealth Management LLC boosted its stake in shares of Cintas by 3.7% in the second 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 during the period. Finally, TIAA Trust National Association grew its position in Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after buying an additional 16 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTAS. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird increased their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Performance

NASDAQ:CTAS opened at $217.97 on Wednesday. The stock’s 50-day moving average is $222.07 and its 200-day moving average is $196.41. The stock has a market cap of $87.91 billion, a P/E ratio of 55.04, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35. 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 (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) 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 analysts’ expectations 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 period in the prior year, the company posted $3.70 EPS. Equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

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

Cintas Announces Dividend

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

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.