Apollon Wealth Management LLC Has $6.36 Million Stake in Cintas Co. (NASDAQ:CTAS)

Apollon Wealth Management LLC increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 2.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,076 shares of the business services provider’s stock after acquiring an additional 243 shares during the period. Apollon Wealth Management LLC’s holdings in Cintas were worth $6,356,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTAS. International Assets Investment Management LLC acquired a new stake in Cintas in the 4th quarter valued at approximately $388,630,000. Daiwa Securities Group Inc. lifted its position in shares of Cintas by 6.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,269 shares of the business services provider’s stock worth $7,997,000 after acquiring an additional 758 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Cintas by 73.2% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 258 shares of the business services provider’s stock worth $155,000 after acquiring an additional 109 shares during the period. Federated Hermes Inc. lifted its position in shares of Cintas by 19.2% in the 4th quarter. Federated Hermes Inc. now owns 92,434 shares of the business services provider’s stock worth $55,706,000 after acquiring an additional 14,917 shares during the period. Finally, AIA Group Ltd lifted its position in shares of Cintas by 11.2% in the 4th quarter. AIA Group Ltd now owns 4,441 shares of the business services provider’s stock worth $2,676,000 after acquiring an additional 446 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CTAS shares. Citigroup downgraded Cintas from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $530.00 to $570.00 in a research report on Friday, May 24th. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Truist Financial raised their target price on Cintas from $775.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada downgraded 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. Finally, Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Two investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $742.36.

Cintas Trading Up 1.1 %

Shares of Cintas stock traded up $8.12 during trading on Monday, reaching $772.98. 468,367 shares of the company were exchanged, compared to its average volume of 373,382. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. Cintas Co. has a twelve month low of $474.74 and a twelve month high of $773.95. The business has a 50-day moving average price of $729.36 and a 200-day moving average price of $681.46. The firm has a market capitalization of $78.43 billion, a price-to-earnings ratio of 52.82, a P/E/G ratio of 4.06 and a beta of 1.31.

Shares of Cintas are scheduled to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.33 earnings per share. Sell-side analysts anticipate that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 0.81%. The ex-dividend date is Thursday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio is presently 43.09%.

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 1,100 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total transaction of $842,292.00. Following the sale, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.10% of the stock is currently owned by corporate insiders.

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.