Cintas Co. (NASDAQ:CTAS) Shares Sold by STF Management LP

STF Management LP trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,615 shares of the business services provider’s stock after selling 73 shares during the period. STF Management LP’s holdings in Cintas were worth $1,131,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in Cintas by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after purchasing an additional 838 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Cintas by 111.5% during 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 in the last quarter. Journey Advisory Group LLC boosted its position in shares of Cintas by 17.1% in the second quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock worth $4,511,000 after buying an additional 940 shares during the period. Bensler LLC grew its stake in shares of Cintas by 4.7% in the second quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock valued at $10,048,000 after buying an additional 646 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings 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 buying an additional 2,439 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’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 transaction of $842,292.00. Following the transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 15.10% of the company’s stock.

Cintas Stock Performance

CTAS opened at $207.77 on Monday. 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 business’s 50 day moving average is $204.28 and its 200-day moving average is $181.01. The stock has a market cap of $21.08 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. Cintas Co. has a twelve month low of $118.68 and a twelve month high of $209.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts predict that Cintas Co. will post 16.64 earnings per share for the current year.

Cintas announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is 10.77%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTAS shares. Morgan Stanley lifted their price target on shares of Cintas from $143.75 to $156.25 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Truist Financial increased their price target on shares of Cintas from $193.75 to $212.50 and gave the stock a “buy” rating in a research report on Friday, July 19th. UBS Group boosted their price objective on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Finally, Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $185.41.

Cintas Company 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.