USA Financial Formulas Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

USA Financial Formulas grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 364.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,477 shares of the business services provider’s stock after acquiring an additional 10,573 shares during the quarter. Cintas comprises about 0.4% of USA Financial Formulas’ investment portfolio, making the stock its 13th biggest holding. USA Financial Formulas’ holdings in Cintas were worth $2,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CTAS. LGT Financial Advisors LLC grew its stake in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in Cintas during the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the first quarter worth approximately $29,000. Rise Advisors LLC bought a new stake in shares of Cintas during the 1st quarter valued at $30,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction 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 sale, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.10% of the stock is owned by insiders.

Cintas Stock Performance

Cintas stock opened at $209.14 on Thursday. The company’s 50-day moving average price is $211.32 and its 200-day moving average price is $186.85. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company has a market cap of $21.22 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $211.57.

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

Cintas announced that its Board of Directors has initiated a share buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given 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 0.75%. Cintas’s dividend payout ratio is presently 10.77%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial increased their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley lifted 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. The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus target price of $199.63.

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.