Cintas Co. (NASDAQ:CTAS) Shares Bought by Capital CS Group LLC

Capital CS Group LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 1.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 920 shares of the business services provider’s stock after purchasing an additional 17 shares during the period. Cintas accounts for 0.7% of Capital CS Group LLC’s portfolio, making the stock its 21st biggest position. Capital CS Group LLC’s holdings in Cintas were worth $644,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Bleakley Financial Group LLC lifted its stake in Cintas by 117.7% in the fourth quarter. Bleakley Financial Group LLC now owns 3,224 shares of the business services provider’s stock valued at $1,943,000 after buying an additional 1,743 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Cintas in the 4th quarter valued at $388,630,000. Allspring Global Investments Holdings LLC boosted its stake in Cintas by 123.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 24,927 shares of the business services provider’s stock worth $15,023,000 after purchasing an additional 13,787 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Cintas during the 4th quarter worth $46,000. Finally, Sequoia Financial Advisors LLC increased its stake in Cintas by 171.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,775 shares of the business services provider’s stock valued at $1,070,000 after purchasing an additional 1,121 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTAS has been the subject of several recent research reports. Truist Financial increased their target price on shares of Cintas from $775.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Barclays boosted their target price on Cintas from $700.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, July 19th. 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. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Royal Bank of Canada cut 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 note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $742.92.

Cintas Price Performance

Shares of NASDAQ CTAS traded up $5.22 during midday trading on Friday, hitting $755.65. The company had a trading volume of 206,701 shares, compared to its average volume of 375,069. The firm has a market capitalization of $76.67 billion, a price-to-earnings ratio of 52.19, a price-to-earnings-growth ratio of 4.06 and a beta of 1.31. Cintas Co. has a twelve month low of $474.74 and a twelve month high of $773.95. The business has a 50-day simple moving average of $721.21 and a two-hundred day simple moving average of $675.26. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47.

Shares of Cintas are going 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 payable to shareholders after the market closes on Wednesday, September 11th.

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

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a $1.56 dividend. This represents a $6.24 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Thursday, August 15th. This is an increase from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio is 43.09%.

Cintas declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Gerald S. Adolph sold 1,100 shares of Cintas 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 in the company, valued at approximately $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.10% of the company’s stock.

About Cintas

Cintas Corporation provides 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.