Cintas Co. (NASDAQ:CTAS) Stock Position Decreased by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 66.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50 shares of the business services provider’s stock after selling 100 shares during the period. Wellington Shields & Co. LLC’s holdings in Cintas were worth $35,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Checchi Capital Advisers LLC grew its position in Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank grew its position in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares during the last quarter. Drive Wealth Management LLC grew its position in Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after purchasing an additional 16 shares during the last quarter. TIAA Trust National Association grew its position in Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after purchasing an additional 16 shares during the last quarter. Finally, Capital CS Group LLC grew its position in Cintas by 1.9% in the 2nd quarter. Capital CS Group LLC now owns 920 shares of the business services provider’s stock worth $644,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. Citigroup cut shares of Cintas from a “neutral” rating to a “sell” rating and upped their target price for the stock from $132.50 to $142.50 in a research report on Friday, May 24th. Royal Bank of Canada lowered shares of 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. Morgan Stanley upped 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. Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average price target of $185.59.

Cintas Stock Up 0.4 %

CTAS stock opened at $819.83 on Thursday. Cintas Co. has a 12 month low of $474.74 and a 12 month high of $820.96. The firm has a market cap of $83.18 billion, a PE ratio of 56.62, a P/E/G ratio of 4.16 and a beta of 1.32. The firm has a 50 day simple moving average of $203.08 and a 200 day simple moving average of $180.16. 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 (NASDAQ:CTAS) last released its earnings results on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the business earned $0.83 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.19%. Cintas’s dividend payout ratio is presently 43.09%.

Cintas declared that its board has authorized a stock buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the company’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 transaction, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 15.10% of the company’s stock.

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.