Coppell Advisory Solutions Corp. Takes $312,000 Position in Cintas Co. (NASDAQ:CTAS)

Coppell Advisory Solutions Corp. bought a new position in Cintas Co. (NASDAQ:CTAS) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 454 shares of the business services provider’s stock, valued at approximately $312,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Cintas during the 4th quarter worth $872,895,000. Clearbridge Investments LLC boosted its position in shares of Cintas by 475.7% in the fourth quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock worth $180,423,000 after buying an additional 247,378 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of 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 buying an additional 133,713 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Cintas by 280.6% during the 4th quarter. BNP Paribas Financial Markets now owns 171,263 shares of the business services provider’s stock valued at $103,213,000 after buying an additional 126,266 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in Cintas during the 1st quarter worth approximately $84,646,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Cintas from $790.00 to $874.00 and gave the company a “buy” rating in a report on Friday, July 19th. Truist Financial lifted their target price on Cintas from $775.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Citigroup downgraded Cintas from a “neutral” rating to a “sell” rating and increased their price target for the company from $530.00 to $570.00 in a report on Friday, May 24th. Stifel Nicolaus lifted their price objective on Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Barclays upped their target price on Cintas from $700.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Cintas has a consensus rating of “Hold” and a consensus price target of $749.00.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 1,100 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 31,452 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 this link. In other news, Director Ronald W. Tysoe sold 2,291 shares of Cintas stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $693.95, for a total transaction of $1,589,839.45. Following the transaction, the director now directly owns 6,655 shares in the company, valued at approximately $4,618,237.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the sale, the director now owns 31,452 shares of the company’s stock, valued at approximately $24,083,425.44. The disclosure for this sale can be found here. Insiders have sold a total of 4,709 shares of company stock worth $3,346,441 over the last ninety days. 15.10% of the stock is currently owned by corporate insiders.

Cintas Stock Performance

Shares of NASDAQ CTAS traded down $8.78 during midday trading on Thursday, hitting $755.16. The company’s stock had a trading volume of 149,542 shares, compared to its average volume of 372,596. 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 Co. has a 1-year low of $474.74 and a 1-year high of $773.95. The firm’s fifty day moving average price is $711.06 and its 200-day moving average price is $667.69. The firm has a market cap of $76.10 billion, a P/E ratio of 52.76, a P/E/G ratio of 4.08 and a beta of 1.31.

Shares of Cintas are scheduled to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be issued to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the company posted $3.33 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date is Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is 37.29%.

Cintas declared that its board has initiated a stock buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Cintas Profile

Cintas Corporation provides 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.