Cypress Capital Group Sells 36 Shares of Cintas Co. (NASDAQ:CTAS)

Cypress Capital Group reduced its stake in Cintas Co. (NASDAQ:CTAS) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 978 shares of the business services provider’s stock after selling 36 shares during the quarter. Cypress Capital Group’s holdings in Cintas were worth $685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Field & Main Bank lifted its position in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 15 shares in the last quarter. Capital CS Group LLC lifted its position in Cintas by 1.9% in the 2nd quarter. Capital CS Group LLC now owns 920 shares of the business services provider’s stock valued at $644,000 after acquiring an additional 17 shares in the last quarter. Andina Capital Management LLC lifted its position in Cintas by 3.3% in the 2nd quarter. Andina Capital Management LLC now owns 538 shares of the business services provider’s stock valued at $377,000 after acquiring an additional 17 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in Cintas by 5.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 349 shares of the business services provider’s stock valued at $240,000 after buying an additional 18 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in Cintas by 1.9% during the 2nd quarter. Pallas Capital Advisors LLC now owns 1,005 shares of the business services provider’s stock valued at $763,000 after buying an additional 19 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTAS. Stifel Nicolaus upped their price objective on Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. UBS Group upped their price objective on Cintas from $790.00 to $874.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada lowered Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 price objective for the company. in a research note on Monday, July 15th. Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $670.00 price target for the company. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $742.36.

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 1,100 shares of Cintas stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total value of $842,292.00. Following the sale, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Cintas Stock Performance

CTAS stock traded up $3.36 during midday trading on Monday, reaching $791.86. The stock had a trading volume of 28,632 shares, compared to its average volume of 370,650. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The firm has a fifty day simple moving average of $738.41 and a two-hundred day simple moving average of $687.17. The stock has a market cap of $80.34 billion, a PE ratio of 54.61, a P/E/G ratio of 4.06 and a beta of 1.31. Cintas Co. has a 52-week low of $474.74 and a 52-week high of $793.14.

Cintas shares are set 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 payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued 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. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.33 EPS. As a group, equities research analysts anticipate that Cintas Co. will post 16.62 EPS for the current 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 $1.56 dividend. The ex-dividend date is Thursday, August 15th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio is 43.09%.

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

Cintas 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.