Wealthquest Corp Sells 71 Shares of Cintas Co. (NASDAQ:CTAS)

Wealthquest Corp cut its holdings in Cintas Co. (NASDAQ:CTAS) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,848 shares of the business services provider’s stock after selling 71 shares during the quarter. Wealthquest Corp’s holdings in Cintas were worth $2,695,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CTAS. Founders Financial Alliance LLC acquired a new stake in shares of Cintas in the second quarter worth $317,000. Cetera Investment Advisers increased its position in shares of Cintas by 2.6% during the second quarter. Cetera Investment Advisers now owns 26,170 shares of the business services provider’s stock valued at $18,326,000 after purchasing an additional 672 shares during the period. 3Chopt Investment Partners LLC bought a new stake in Cintas during the 2nd quarter worth approximately $555,000. Advisory Alpha LLC acquired a new stake in Cintas during the 2nd quarter valued at $248,000. Finally, HWG Holdings LP acquired a new position in Cintas in the second quarter worth $405,000. 63.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Jefferies Financial Group cut their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Two investment 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Up 1.7 %

CTAS stock opened at $205.88 on Tuesday. The business has a 50-day moving average of $209.14 and a 200-day moving average of $184.71. Cintas Co. has a fifty-two week low of $119.69 and a fifty-two week high of $211.57. The stock has a market capitalization of $20.89 billion, a P/E ratio of 14.22, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm posted $3.70 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has approved 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Cintas Cuts Dividend

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

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.