Outlook Wealth Advisors LLC Sells 70 Shares of Cintas Co. (NASDAQ:CTAS)

Outlook Wealth Advisors LLC reduced its stake in Cintas Co. (NASDAQ:CTAS) by 13.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 466 shares of the business services provider’s stock after selling 70 shares during the period. Outlook Wealth Advisors LLC’s holdings in Cintas were worth $326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Cintas by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after acquiring an additional 112,361 shares in the last quarter. Norges Bank bought a new stake in shares of Cintas during the fourth quarter worth about $872,895,000. Bank of New York Mellon Corp increased its position in shares of Cintas by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 806,369 shares of the business services provider’s stock worth $554,000,000 after acquiring an additional 27,470 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Cintas by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 726,515 shares of the business services provider’s stock worth $437,842,000 after acquiring an additional 15,444 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after acquiring an additional 37,727 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank of Canada downgraded shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 target price for the company. in a research report on Monday, July 15th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Truist Financial boosted their price target on shares of Cintas from $775.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Citigroup cut shares of Cintas from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $530.00 to $570.00 in a report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $742.36.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the transaction, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.10% of the company’s stock.

Cintas Trading Down 0.4 %

Shares of NASDAQ:CTAS traded down $2.88 on Friday, hitting $764.86. The company had a trading volume of 267,647 shares, compared to its average volume of 372,777. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $729.36 and its two-hundred day simple moving average is $680.42. The firm has a market capitalization of $77.60 billion, a price-to-earnings ratio of 52.82, a P/E/G ratio of 4.06 and a beta of 1.31. Cintas Co. has a 1 year low of $474.74 and a 1 year high of $773.95.

Cintas’s stock is scheduled to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be issued to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last released 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 firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the business posted $3.33 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 16.62 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a dividend of $1.56 per share. This is a boost from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date is Thursday, August 15th. This represents a $6.24 dividend on an annualized basis and a yield of 0.82%. Cintas’s payout ratio is 43.09%.

Cintas announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically 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.