Cwm LLC Increases Holdings in Cintas Co. (NASDAQ:CTAS)

Cwm LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 422.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,571 shares of the business services provider’s stock after purchasing an additional 23,101 shares during the quarter. Cwm LLC’s holdings in Cintas were worth $5,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas in the 1st quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in shares of Cintas in the 1st quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. lifted its holdings 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 valued at $34,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction on 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 in the company, valued at $24,083,425.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.10% of the stock is owned by insiders.

Cintas Stock Up 0.9 %

NASDAQ:CTAS opened at $208.05 on Friday. The stock has a 50-day simple moving average of $212.01 and a 200 day simple moving average of $187.53. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $211.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a market cap of $21.11 billion, a PE ratio of 14.37, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $3.70 earnings per share. On average, sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its Board of Directors has approved a stock repurchase plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.75%. Cintas’s payout ratio is 10.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CTAS shares. Robert W. Baird raised their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Morgan Stanley lifted their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.