Cintas Co. (NASDAQ:CTAS) Stake Increased by Chicago Capital LLC

Chicago Capital LLC raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,404 shares of the business services provider’s stock after acquiring an additional 2,553 shares during the quarter. Chicago Capital LLC’s holdings in Cintas were worth $701,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Cintas by 2,063.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after buying an additional 22,700 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after acquiring an additional 838 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its holdings in shares of Cintas by 281.9% in the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 8,887 shares of the business services provider’s stock valued at $1,830,000 after acquiring an additional 6,560 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Cintas by 111.5% during the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after acquiring an additional 3,878 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

CTAS stock opened at $214.02 on Monday. The company has a 50-day simple moving average of $214.61 and a 200 day simple moving average of $189.12. The company has a market capitalization of $21.72 billion, a P/E ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a fifty-two week low of $123.65 and a fifty-two week high of $215.37.

Cintas (NASDAQ:CTAS) last issued 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 net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the business posted $3.70 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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 paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.73%. Cintas’s dividend payout ratio is currently 10.77%.

Cintas announced that its board has approved a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on CTAS shares. Barclays boosted their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Royal Bank of Canada raised their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Stifel Nicolaus upped their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group cut their price target 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 given a buy rating to the company. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and an average target price of $199.63.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.10% of the stock is owned by corporate insiders.

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.