Arcadia Investment Management Corp MI Reduces Stake in Cintas Co. (NASDAQ:CTAS)

Arcadia Investment Management Corp MI decreased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 17.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 465 shares of the business services provider’s stock after selling 100 shares during the period. Arcadia Investment Management Corp MI’s holdings in Cintas were worth $326,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after acquiring an additional 838 shares during the last quarter. QRG Capital Management Inc. increased its stake in Cintas by 111.5% in the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after acquiring an additional 3,878 shares during the last quarter. Bensler LLC increased its stake in Cintas by 4.7% in the 2nd quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock worth $10,048,000 after acquiring an additional 646 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Cintas by 19.8% during the 2nd quarter. SG Americas Securities LLC now owns 14,733 shares of the business services provider’s stock valued at $10,317,000 after purchasing an additional 2,439 shares during the last quarter. Finally, Milestone Asset Management LLC bought a new position in shares of Cintas during the 2nd quarter valued at about $1,318,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Activity

In other news, Director Gerald S. Adolph sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.10% of the stock is currently owned by company insiders.

Cintas Trading Down 0.8 %

NASDAQ CTAS traded down $6.43 on Friday, hitting $792.49. The company’s stock had a trading volume of 20,641 shares, compared to its average volume of 368,218. Cintas Co. has a 52-week low of $474.74 and a 52-week high of $812.01. 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 50-day simple moving average is $754.69 and its 200 day simple moving average is $697.77. The firm has a market cap of $80.41 billion, a P/E ratio of 55.17, a PEG ratio of 4.28 and a beta of 1.31.

Cintas’s stock is going to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be distributed to shareholders after the closing bell 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 return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the business posted $3.33 EPS. The business’s revenue was up 8.2% on a year-over-year basis. Research analysts predict that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas declared that its board has approved a share buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits 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 leadership believes its stock is undervalued.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $670.00 price objective on the stock. Citigroup lowered Cintas from a “neutral” rating to a “sell” rating and increased their price objective for the company from $530.00 to $570.00 in a research report on Friday, May 24th. Royal Bank of Canada lowered Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 price objective on the stock. in a research report on Monday, July 15th. Finally, Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Cintas has an average rating of “Hold” and a consensus price target of $742.36.

About Cintas

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.