Mutual of America Capital Management LLC Has $7.62 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Mutual of America Capital Management LLC lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,879 shares of the business services provider’s stock after selling 422 shares during the period. Mutual of America Capital Management LLC’s holdings in Cintas were worth $7,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CTAS. Los Angeles Capital Management LLC lifted its stake in shares of Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after purchasing an additional 201,955 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Cintas by 711.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock valued at $91,915,000 after purchasing an additional 133,713 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Cintas in the 1st quarter valued at $84,646,000. Vanguard Group Inc. lifted its stake in shares of Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after purchasing an additional 112,361 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in shares of Cintas by 124.9% in the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock valued at $134,318,000 after purchasing an additional 108,582 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 1.2 %

Shares of CTAS opened at $203.74 on Friday. The company has a 50-day simple moving average of $206.29 and a 200-day simple moving average of $181.97. The firm has a market capitalization of $20.67 billion, a P/E ratio of 14.07, a P/E/G ratio of 4.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. Cintas Co. has a 52 week low of $118.68 and a 52 week high of $209.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts expect that Cintas Co. will post 16.64 earnings per share for the current year.

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTAS. Robert W. Baird reiterated a “neutral” rating and issued a $193.75 target price (up previously from $187.50) 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 report on Friday, June 14th. Citigroup lowered shares of Cintas from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $132.50 to $142.50 in a research report on Friday, May 24th. Morgan Stanley boosted their target price on shares of Cintas from $143.75 to $156.25 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Finally, Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Two research 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. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average target price of $186.30.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.10% of the company’s stock.

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.