Stokes Capital Advisors LLC Has $471,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Stokes Capital Advisors LLC lowered its stake in Cintas Co. (NASDAQ:CTAS) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 673 shares of the business services provider’s stock after selling 17 shares during the quarter. Stokes Capital Advisors LLC’s holdings in Cintas were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. QRG Capital Management Inc. raised its holdings in Cintas by 111.5% in the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after purchasing an additional 3,878 shares during the period. SG Americas Securities LLC raised its stake in Cintas by 19.8% during the 2nd quarter. SG Americas Securities LLC now owns 14,733 shares of the business services provider’s stock worth $10,317,000 after buying an additional 2,439 shares during the period. Swedbank AB bought a new position in Cintas during the first quarter worth about $37,658,000. Gateway Investment Advisers LLC lifted its holdings in Cintas by 329.0% during the second quarter. Gateway Investment Advisers LLC now owns 1,300 shares of the business services provider’s stock worth $910,000 after acquiring an additional 997 shares in the last quarter. Finally, Czech National Bank grew its stake in Cintas by 8.4% in the second quarter. Czech National Bank now owns 16,434 shares of the business services provider’s stock valued at $11,508,000 after acquiring an additional 1,274 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTAS shares. Truist Financial lifted their price objective on Cintas from $775.00 to $850.00 and gave the company a “buy” rating in a report on Friday, July 19th. Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $670.00 price target for the company. Barclays raised their price objective on shares of Cintas from $700.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Royal Bank of Canada lowered shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 target price for the company. in a research note on Monday, July 15th. Finally, UBS Group lifted 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus price target of $742.36.

Cintas Stock Down 0.4 %

Shares of NASDAQ:CTAS traded down $2.88 during midday trading on Friday, hitting $764.86. The stock had a trading volume of 267,647 shares, compared to its average volume of 372,777. The company has a market cap of $77.60 billion, a P/E ratio of 52.82, a PEG ratio of 4.06 and a beta of 1.31. Cintas Co. has a 12 month low of $474.74 and a 12 month high of $773.95. The business’s 50-day simple moving average is $729.36 and its 200-day simple moving average is $681.46. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47.

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

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business earned $3.33 EPS. Cintas’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 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.82%. This is a boost from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

Cintas declared that its board has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Cintas

In other Cintas news, 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 transaction, the director now directly owns 31,452 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.10% of the stock is currently owned by corporate insiders.

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.