Cintas Co. (NASDAQ:CTAS) Shares Sold by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. lowered its position in shares of Cintas Co. (NASDAQ:CTAS) by 27.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,658 shares of the business services provider’s stock after selling 48,551 shares during the period. Cintas makes up approximately 4.5% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 13th largest position. Bristol Gate Capital Partners Inc.’s holdings in Cintas were worth $90,794,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CTAS. Vantage Financial Partners LLC acquired a new stake in Cintas during the fourth quarter worth $1,029,000. Aveo Capital Partners LLC increased its position in shares of Cintas by 4.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after purchasing an additional 44 shares during the last quarter. TrinityPoint Wealth LLC acquired a new stake in shares of Cintas during the 4th quarter worth about $782,000. D.A. Davidson & CO. raised its holdings in Cintas by 68.4% in the 4th quarter. D.A. Davidson & CO. now owns 2,684 shares of the business services provider’s stock valued at $1,618,000 after buying an additional 1,090 shares during the period. Finally, Corient Private Wealth LLC lifted its position in Cintas by 164.5% in the fourth quarter. Corient Private Wealth LLC now owns 43,565 shares of the business services provider’s stock valued at $26,255,000 after buying an additional 27,095 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction dated 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 owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.10% of the company’s stock.

Cintas Stock Up 1.2 %

CTAS stock opened at $203.74 on Friday. The company’s 50 day moving average price is $206.29 and its 200 day moving average price is $181.97. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 4.36 and a beta of 1.32. Cintas Co. has a fifty-two week low of $118.68 and a fifty-two week high of $209.12. 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 announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. On average, equities research analysts anticipate that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a stock repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign 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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is 10.77%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Citigroup lowered Cintas from a “neutral” rating to a “sell” rating and boosted their target price for the company from $132.50 to $142.50 in a research report on Friday, May 24th. UBS Group raised their price target on Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a research report on Friday, July 19th. Barclays cut their price objective on Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Finally, Morgan Stanley raised their target price on Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.30.

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.