Cintas Co. (NASDAQ:CTAS) Shares Sold by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 407 shares of the business services provider’s stock after selling 65 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in Cintas were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CTAS. Atwood & Palmer Inc. acquired a new stake in Cintas in the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the first quarter worth about $29,000. Rise Advisors LLC acquired a new position in shares of Cintas during the 1st quarter worth about $30,000. Webster Bank N. A. purchased a new position in Cintas in the 1st quarter valued at about $38,000. Finally, Crewe Advisors LLC boosted its holdings in Cintas by 133.3% in the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays boosted their price target on Cintas from $700.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Redburn Atlantic assumed coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $670.00 price target on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $775.00 price objective (up previously from $750.00) on shares of Cintas in a research note on Friday, July 19th. Stifel Nicolaus increased their price objective on shares of Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, UBS Group boosted their target price on Cintas from $790.00 to $874.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $742.36.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 1,100 shares of the 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 of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.10% of the stock is owned by corporate insiders.

Cintas Stock Performance

CTAS traded up $5.87 during trading on Friday, hitting $805.12. 395,978 shares of the stock were exchanged, compared to its average volume of 342,563. 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 has a market capitalization of $81.13 billion, a P/E ratio of 55.60, a PEG ratio of 4.28 and a beta of 1.31. The stock has a fifty day moving average price of $747.43 and a two-hundred day moving average price of $693.14. Cintas Co. has a 1-year low of $474.74 and a 1-year high of $807.98.

Cintas’s stock is scheduled to split on 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 released its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share (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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the company posted $3.33 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts predict that Cintas Co. will post 16.64 earnings per share for the current year.

Cintas Increases Dividend

The company also recently declared 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 is a boost from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, August 15th. Cintas’s dividend payout ratio is currently 43.09%.

Cintas announced that its board has approved a stock repurchase program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.