Andra AP fonden Sells 2,900 Shares of Cintas Co. (NASDAQ:CTAS)

Andra AP fonden cut its stake in Cintas Co. (NASDAQ:CTAS) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,200 shares of the business services provider’s stock after selling 2,900 shares during the period. Andra AP fonden’s holdings in Cintas were worth $32,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners LLC acquired a new stake in Cintas in the 4th quarter valued at approximately $1,029,000. Aveo Capital Partners LLC grew its stake in shares of Cintas by 4.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after acquiring an additional 44 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Cintas in the fourth quarter valued at approximately $564,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Cintas by 100.4% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 467 shares of the business services provider’s stock worth $281,000 after purchasing an additional 234 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Cintas by 2.4% during the fourth quarter. QRG Capital Management Inc. now owns 2,182 shares of the business services provider’s stock worth $1,315,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several analyst reports. Barclays boosted their price target on shares of Cintas from $700.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Morgan Stanley upped their target price on Cintas from $575.00 to $625.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Citigroup downgraded shares of Cintas from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $530.00 to $570.00 in a report on Friday, May 24th. Two 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $742.36.

Insider Activity

In related news, 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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Cintas Stock Up 2.9 %

Shares of CTAS opened at $804.72 on Tuesday. The firm’s 50-day simple moving average is $758.53 and its 200 day simple moving average is $701.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The firm has a market cap of $81.09 billion, a P/E ratio of 55.57, a price-to-earnings-growth ratio of 4.16 and a beta of 1.32. Cintas Co. has a 52 week low of $474.74 and a 52 week high of $812.01.

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

Cintas (NASDAQ:CTAS) last announced its 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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the business posted $3.33 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast that Cintas Co. will post 16.64 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $1.56 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a yield of 0.78%. Cintas’s payout ratio is currently 43.09%.

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

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.