Sunflower Bank N.A. Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Sunflower Bank N.A. lifted its position in Cintas Co. (NASDAQ:CTAS) by 300.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,336 shares of the business services provider’s stock after buying an additional 1,002 shares during the quarter. Sunflower Bank N.A.’s holdings in Cintas were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Creative Planning increased its stake in shares of Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after buying an additional 4,957 shares during the period. Susquehanna Fundamental Investments LLC raised its stake in shares of Cintas by 2,063.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after purchasing an additional 22,700 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after purchasing an additional 838 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Cintas by 111.5% during the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after acquiring an additional 3,878 shares during the period. Finally, Thoroughbred Financial Services LLC increased its holdings in shares of Cintas by 105.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock valued at $3,515,000 after purchasing an additional 2,580 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.10% of the stock is owned by corporate insiders.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded up $1.92 during trading on Friday, hitting $208.05. 1,347,619 shares of the company traded hands, compared to its average volume of 1,483,670. Cintas Co. has a one year low of $123.65 and a one year high of $211.57. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average is $212.01 and its 200-day moving average is $187.53. The stock has a market capitalization of $21.11 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its board has initiated a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio is presently 10.77%.

Analyst Ratings Changes

Several research firms recently commented on CTAS. The Goldman Sachs Group boosted their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Robert W. Baird boosted their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Finally, Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $199.63.

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.