Cintas Co. (NASDAQ:CTAS) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 21.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 387,510 shares of the business services provider’s stock after buying an additional 67,440 shares during the period. Cintas comprises 0.8% of Acadian Asset Management LLC’s investment portfolio, making the stock its 20th largest holding. Acadian Asset Management LLC owned approximately 0.38% of Cintas worth $271,323,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC raised its stake in shares of Cintas by 311.1% in the second 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 in the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas during the 2nd quarter worth about $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas in the 1st quarter valued at about $29,000. Rise Advisors LLC acquired a new stake in Cintas in the 1st quarter valued at about $30,000. Finally, Webster Bank N. A. purchased a new position in shares of Cintas in the 1st quarter valued at about $38,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 2.1 %

CTAS stock opened at $781.90 on Friday. The company has a market cap of $79.33 billion, a price-to-earnings ratio of 54.00, a price-to-earnings-growth ratio of 4.28 and a beta of 1.32. The company has a fifty day moving average price of $756.32 and a 200 day moving average price of $699.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. Cintas Co. has a 12 month low of $474.74 and a 12 month high of $812.01.

Cintas shares are scheduled to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $3.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the company posted $3.33 EPS. Cintas’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Cintas Co. will post 16.64 earnings per share for the current year.

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

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $1.56 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $6.24 dividend on an annualized basis and a yield of 0.80%. This is an increase from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 1,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the transaction, the director now directly owns 31,452 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Cintas from $575.00 to $625.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Stifel Nicolaus raised their price objective on shares of Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a report on Friday, July 19th. Citigroup downgraded shares of Cintas from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $530.00 to $570.00 in a research note on Friday, May 24th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $775.00 price target (up from $750.00) on shares of Cintas in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $742.36.

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.