MGO One Seven LLC Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

MGO One Seven LLC grew its holdings in Cintas Co. (NASDAQ:CTAS) by 28.3% during the second quarter, HoldingsChannel.com reports. The firm owned 1,302 shares of the business services provider’s stock after acquiring an additional 287 shares during the quarter. MGO One Seven LLC’s holdings in Cintas were worth $912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Checchi Capital Advisers LLC increased its stake in Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after buying an additional 14 shares during the period. Field & Main Bank boosted 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 buying an additional 15 shares during the period. Drive Wealth Management LLC grew its stake in Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after acquiring an additional 16 shares in the last quarter. TIAA Trust National Association increased its position in shares of Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the period. Finally, Capital CS Group LLC grew its stake in Cintas by 1.9% in the second quarter. Capital CS Group LLC now owns 920 shares of the business services provider’s stock worth $644,000 after purchasing an additional 17 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CTAS. Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Barclays dropped their target price on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada lowered shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price target for the company. in a report on Monday, July 15th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Two 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $185.41.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.10% of the stock is currently owned by insiders.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $207.77 on Friday. Cintas Co. has a fifty-two week low of $118.68 and a fifty-two week high of $209.12. 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 company has a market cap of $20.94 billion, a PE ratio of 14.35, a P/E/G ratio of 4.36 and a beta of 1.32. The business has a 50-day simple moving average of $204.28 and a two-hundred day simple moving average of $180.68.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the business earned $0.83 EPS. Cintas’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. Cintas’s dividend payout ratio (DPR) is 43.09%.

Cintas declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.