Tributary Capital Management LLC Has $735,000 Stock Position in Cintas Co. (NASDAQ:CTAS)

Tributary Capital Management LLC cut its holdings in Cintas Co. (NASDAQ:CTAS) by 16.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,050 shares of the business services provider’s stock after selling 205 shares during the quarter. Tributary Capital Management LLC’s holdings in Cintas were worth $735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atwood & Palmer Inc. acquired a new stake in shares of Cintas in the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the 1st quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in Cintas in the first quarter valued at approximately $30,000. Webster Bank N. A. bought a new stake in shares of Cintas during the first quarter worth $38,000. Finally, DSM Capital Partners LLC acquired a new position in shares of Cintas during the fourth quarter worth $40,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.5 %

Cintas stock traded up $3.86 during trading hours on Friday, reaching $788.50. 257,244 shares of the company’s stock were exchanged, compared to its average volume of 372,748. The firm has a market capitalization of $80.00 billion, a PE ratio of 54.45, a PEG ratio of 4.06 and a beta of 1.31. 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 $738.41 and its 200 day simple moving average is $686.24. Cintas Co. has a twelve month low of $474.74 and a twelve month high of $791.65.

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

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

Cintas declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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 paid a dividend of $1.56 per share. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a yield of 0.79%. Cintas’s dividend payout ratio is currently 43.09%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTAS. Morgan Stanley raised their price objective on Cintas from $575.00 to $625.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a report on Tuesday, August 13th. Robert W. Baird reiterated a “neutral” rating and issued a $775.00 price objective (up previously from $750.00) on shares of Cintas in a report on Friday, July 19th. Stifel Nicolaus boosted their target price on shares of Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Redburn Atlantic began coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $670.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $742.36.

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.