Cintas Co. (NASDAQ:CTAS) Shares Acquired by Tsfg LLC

Tsfg LLC lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,400 shares of the business services provider’s stock after purchasing an additional 1,800 shares during the period. Tsfg LLC’s holdings in Cintas were worth $494,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sentry LLC boosted its position in shares of Cintas by 297.3% during the 3rd quarter. Sentry LLC now owns 59,796 shares of the business services provider’s stock worth $12,311,000 after acquiring an additional 44,745 shares in the last quarter. Ullmann Wealth Partners Group LLC boosted its holdings in Cintas by 281.9% in the third quarter. Ullmann Wealth Partners Group LLC now owns 8,887 shares of the business services provider’s stock valued at $1,830,000 after purchasing an additional 6,560 shares in the last quarter. Lockerman Financial Group Inc. increased its stake in Cintas by 291.2% in the third quarter. Lockerman Financial Group Inc. now owns 1,698 shares of the business services provider’s stock valued at $350,000 after purchasing an additional 1,264 shares during the last quarter. Cabot Wealth Management Inc. raised its holdings in Cintas by 187.2% during the third quarter. Cabot Wealth Management Inc. now owns 70,280 shares of the business services provider’s stock worth $14,469,000 after purchasing an additional 45,806 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of Cintas by 308.3% during the 3rd quarter. Swedbank AB now owns 221,336 shares of the business services provider’s stock worth $45,569,000 after buying an additional 167,123 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CTAS shares. Truist Financial increased their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Barclays boosted their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Robert W. Baird raised 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. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Finally, Morgan Stanley increased their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two 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 company’s stock. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Down 0.4 %

CTAS opened at $210.70 on Wednesday. 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 $123.65 and a 12 month high of $213.05. The stock has a market capitalization of $21.38 billion, a P/E ratio of 14.55, a P/E/G ratio of 4.12 and a beta of 1.32. The business has a 50 day simple moving average of $213.03 and a 200-day simple moving average of $188.19.

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

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

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. Cintas’s payout ratio is 10.77%.

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.