Brown Financial Advisors Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Brown Financial Advisors bought a new position in Cintas Co. (NASDAQ:CTAS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 270 shares of the business services provider’s stock, valued at approximately $189,000.

Other large investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its holdings in shares of Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after acquiring an additional 14 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after acquiring an additional 14 shares in the last quarter. Field & Main Bank raised its holdings in shares of 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 acquiring an additional 15 shares in the last quarter. Drive Wealth Management LLC raised its holdings in shares of Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the topic of several recent analyst reports. Morgan Stanley raised their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Barclays raised their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Finally, Jefferies Financial Group decreased their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus price target of $199.63.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 15.10% of the stock is currently owned by corporate insiders.

Cintas Price Performance

Shares of CTAS stock opened at $205.30 on Thursday. The firm has a market cap of $20.83 billion, a P/E ratio of 14.18, a P/E/G ratio of 4.09 and a beta of 1.32. Cintas Co. has a fifty-two week low of $119.73 and a fifty-two week high of $211.57. The business’s 50 day moving average price is $209.77 and its 200-day moving average price is $185.19. 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 (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $3.70 EPS. On average, equities research analysts anticipate that Cintas Co. will post 4.16 earnings per share for the current year.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio is presently 10.77%.

Cintas declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are 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.