Weik Capital Management Sells 135 Shares of Cintas Co. (NASDAQ:CTAS)

Weik Capital Management lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,410 shares of the business services provider’s stock after selling 135 shares during the period. Cintas makes up 1.9% of Weik Capital Management’s investment portfolio, making the stock its 12th biggest holding. Weik Capital Management’s holdings in Cintas were worth $4,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. LGT Financial Advisors LLC grew its stake in Cintas by 311.1% in the second 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 period. Atwood & Palmer Inc. bought a new stake in Cintas during the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas in the 1st quarter worth about $29,000. Rise Advisors LLC bought a new position in Cintas during the 1st quarter valued at $30,000. Finally, Meeder Asset Management Inc. boosted its stake 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 worth $34,000 after buying an additional 34 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a filing with the SEC, which is available through this link. 15.10% of the stock is currently owned by insiders.

Cintas Stock Up 0.8 %

Shares of NASDAQ:CTAS opened at $207.77 on Friday. The firm has a fifty day moving average price of $204.28 and a two-hundred day moving average price of $180.85. The company has a market cap of $20.94 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 4.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. Cintas Co. has a one year low of $118.68 and a one year high of $209.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. Analysts anticipate 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 outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is 43.09%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Citigroup downgraded Cintas from a “neutral” rating to a “sell” rating and raised their target price for the stock from $132.50 to $142.50 in a research report on Friday, May 24th. Wells Fargo & Company raised Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Royal Bank of Canada downgraded Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price target for the company. in a research note on Monday, July 15th. Finally, Barclays lowered their price objective on Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday. Two research 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. According to MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $185.41.

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.