Cintas Co. (NASDAQ:CTAS) Shares Acquired by Sonoma Private Wealth LLC

Sonoma Private Wealth LLC lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 278.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,183 shares of the business services provider’s stock after purchasing an additional 1,606 shares during the period. Sonoma Private Wealth LLC’s holdings in Cintas were worth $449,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. LGT Financial Advisors LLC raised its stake in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new position in shares of Cintas during the second quarter valued at $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas in the 1st quarter worth about $29,000. Rise Advisors LLC purchased a new position in Cintas during the 1st quarter valued at about $30,000. Finally, Grove Bank & Trust increased its holdings in shares of Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced 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. Royal Bank of Canada raised their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Truist Financial raised their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Down 0.3 %

NASDAQ CTAS traded down $0.58 during trading hours on Friday, hitting $213.24. The company’s stock had a trading volume of 187,990 shares, compared to its average volume of 1,470,456. The stock has a fifty day moving average of $214.11 and a 200 day moving average of $188.54. The firm has a market capitalization of $21.64 billion, a P/E ratio of 14.77, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $215.37. 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.70 earnings per share. Equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The business also recently disclosed 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. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is 10.77%.

Cintas declared that its Board of Directors has authorized a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were 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 approximately $24,083,425.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is currently owned by company insiders.

Cintas Company 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.