Burney Co. Sells 100 Shares of Cintas Co. (NASDAQ:CTAS)

Burney Co. lowered its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 800 shares of the business services provider’s stock after selling 100 shares during the quarter. Burney Co.’s holdings in Cintas were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. TIAA Trust National Association lifted its holdings in shares of Cintas by 2.5% in the 4th quarter. TIAA Trust National Association now owns 1,197 shares of the business services provider’s stock worth $721,000 after acquiring an additional 29 shares during the last quarter. Trust Point Inc. purchased a new position in shares of Cintas during the fourth quarter valued at approximately $632,000. Ballentine Partners LLC purchased a new position in shares of Cintas during the fourth quarter valued at approximately $312,000. Compass Ion Advisors LLC purchased a new stake in shares of Cintas in the fourth quarter worth approximately $211,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Cintas by 2.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 38,064 shares of the business services provider’s stock valued at $22,880,000 after purchasing an additional 731 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

CTAS stock traded down $5.15 during midday trading on Friday, reaching $756.76. The stock had a trading volume of 485,161 shares, compared to its average volume of 420,490. Cintas Co. has a 52-week low of $474.74 and a 52-week high of $773.95. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $713.86 and its 200 day simple moving average is $669.48. The company has a market cap of $76.26 billion, a price-to-earnings ratio of 52.26, a price-to-earnings-growth ratio of 4.06 and a beta of 1.31.

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

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the firm earned $3.33 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that Cintas Co. will post 16.62 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors 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 yield of 0.82%. This is a boost 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 of Directors has initiated a stock repurchase 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on CTAS. UBS Group raised their price target on Cintas from $790.00 to $874.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Stifel Nicolaus raised their target price on shares of Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Truist Financial upped their price target on shares of Cintas from $775.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Citigroup lowered shares of 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 research report on Friday, May 24th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $749.00.

Insider Buying and Selling at Cintas

In related news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the sale, the director now directly owns 31,452 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Jim Rozakis sold 1,318 shares of Cintas stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $693.71, for a total value of $914,309.78. Following the completion of the transaction, the chief operating officer now owns 59,770 shares in the company, valued at $41,463,046.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald S. Adolph sold 1,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the sale, the director now directly owns 31,452 shares in the company, valued at $24,083,425.44. The disclosure for this sale can be found here. Insiders sold a total of 4,709 shares of company stock valued at $3,346,441 in the last three months. 15.10% of the stock is owned by corporate insiders.

About Cintas

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.