Cintas Co. (NASDAQ:CTAS) Shares Acquired by Godsey & Gibb Inc.

Godsey & Gibb Inc. boosted its stake in Cintas Co. (NASDAQ:CTAS) by 281.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 130,155 shares of the business services provider’s stock after acquiring an additional 96,040 shares during the quarter. Cintas makes up about 2.6% of Godsey & Gibb Inc.’s investment portfolio, making the stock its 7th biggest position. Godsey & Gibb Inc.’s holdings in Cintas were worth $26,796,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Columbus Macro LLC boosted its stake in shares of Cintas by 264.9% during the third quarter. Columbus Macro LLC now owns 4,915 shares of the business services provider’s stock valued at $1,015,000 after purchasing an additional 3,568 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Cintas by 343.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after buying an additional 86,460 shares during the period. Vest Financial LLC grew its holdings in Cintas by 292.6% during the 3rd quarter. Vest Financial LLC now owns 258,477 shares of the business services provider’s stock worth $53,215,000 after acquiring an additional 192,648 shares during the last quarter. Stegent Equity Advisors Inc. grew its holdings in Cintas by 276.4% during the 3rd quarter. Stegent Equity Advisors Inc. now owns 1,532 shares of the business services provider’s stock worth $315,000 after acquiring an additional 1,125 shares during the last quarter. Finally, OLD National Bancorp IN increased its position in Cintas by 294.7% in the 3rd quarter. OLD National Bancorp IN now owns 26,768 shares of the business services provider’s stock valued at $5,511,000 after acquiring an additional 19,986 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $214.02 on Monday. The stock has a market capitalization of $21.72 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company’s 50-day moving average is $214.61 and its 200-day moving average is $189.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business earned $3.70 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has authorized a stock repurchase plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.73%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CTAS shares. Royal Bank of Canada boosted their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Barclays upped their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, Morgan Stanley boosted their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research 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 given a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $199.63.

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.