Xponance Inc. Increases Position in Cintas Co. (NASDAQ:CTAS)

Xponance Inc. lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 2.8% in the second quarter, Holdings Channel reports. The fund owned 20,533 shares of the business services provider’s stock after purchasing an additional 558 shares during the quarter. Xponance Inc.’s holdings in Cintas were worth $14,378,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC lifted its position in shares of 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 second quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas during the first quarter valued at approximately $29,000. Rise Advisors LLC bought a new position in shares of Cintas during the first quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred 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 owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CTAS shares. UBS Group raised their price target on shares of Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a report on Friday, July 19th. Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. 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 for the company. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Two research 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $186.30.

Cintas Price Performance

NASDAQ:CTAS opened at $203.99 on Tuesday. Cintas Co. has a 52 week low of $118.68 and a 52 week high of $209.12. The stock’s fifty day moving average is $207.27 and its two-hundred day moving average is $182.99. The company has a market capitalization of $20.70 billion, a P/E ratio of 14.09, a P/E/G ratio of 4.36 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47.

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

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

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued 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 0.76%. Cintas’s dividend payout ratio (DPR) is presently 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.