5,232 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by XTX Topco Ltd

XTX Topco Ltd purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,232 shares of the business services provider’s stock, valued at approximately $3,664,000. Cintas comprises about 0.3% of XTX Topco Ltd’s portfolio, making the stock its 26th biggest holding.

Other hedge funds also recently bought and sold shares of the company. LGT Financial Advisors LLC raised its holdings in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Cintas during the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas in the 1st quarter worth about $29,000. Rise Advisors LLC bought a new position in shares of Cintas in the 1st quarter valued at about $30,000. Finally, Meeder Asset Management Inc. increased its stake in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on CTAS shares. Barclays dropped their price objective on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Royal Bank of Canada downgraded Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price objective on the stock. in a report on Monday, July 15th. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Finally, Citigroup downgraded shares of Cintas from a “neutral” rating to a “sell” rating and increased their price objective for the company from $132.50 to $142.50 in a research note on Friday, May 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $186.30.

Cintas Stock Down 1.2 %

Shares of CTAS opened at $201.38 on Thursday. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The firm has a market cap of $20.43 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. The company’s 50-day moving average price is $205.79 and its 200 day moving average price is $181.82. Cintas Co. has a 12-month low of $118.68 and a 12-month high of $209.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. 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 analyst estimates of $2.47 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that Cintas Co. will post 16.64 earnings per share for the current year.

Cintas declared that its Board of Directors has approved a share repurchase plan 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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 issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.77%. Cintas’s dividend payout ratio (DPR) is 10.77%.

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.