Cintas Co. (NASDAQ:CTAS) Shares Purchased by Axa S.A.

Axa S.A. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,899 shares of the business services provider’s stock after purchasing an additional 4,057 shares during the quarter. Axa S.A.’s holdings in Cintas were worth $23,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTAS. Los Angeles Capital Management LLC lifted its holdings in Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after buying an additional 201,955 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Cintas by 711.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock valued at $91,915,000 after purchasing an additional 133,713 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Cintas in the first quarter valued at approximately $84,646,000. Vanguard Group Inc. increased its stake in Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after purchasing an additional 112,361 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its holdings in Cintas by 124.9% during the first quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock worth $134,318,000 after purchasing an additional 108,582 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Down 0.1 %

CTAS stock opened at $207.01 on Friday. Cintas Co. has a one year low of $118.68 and a one year high of $211.57. The stock has a market capitalization of $21.00 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The company has a fifty day moving average of $208.28 and a 200-day moving average of $183.50.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business earned $3.70 EPS. The business’s revenue was up 6.8% on a year-over-year basis. As a group, analysts expect that Cintas Co. will post 4.16 EPS for the current year.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. 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 repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research analyst reports. UBS Group upped their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada upped their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday. Redburn Atlantic initiated coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Stifel Nicolaus upped their target price on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $197.30.

Insider Activity

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.10% of the company’s stock.

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.