McKinley Carter Wealth Services Inc. Has $948,000 Position in Cintas Co. (NASDAQ:CTAS)

McKinley Carter Wealth Services Inc. boosted its position in Cintas Co. (NASDAQ:CTAS) by 299.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,602 shares of the business services provider’s stock after purchasing an additional 3,450 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Cintas were worth $948,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning increased its holdings in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in Cintas by 2,063.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after purchasing an additional 22,700 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings 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 purchasing an additional 838 shares in the last quarter. QRG Capital Management Inc. increased its holdings 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 purchasing an additional 3,878 shares in the last quarter. Finally, Ullmann Wealth Partners Group LLC increased its stake in shares of Cintas by 281.9% in the third quarter. Ullmann Wealth Partners Group LLC now owns 8,887 shares of the business services provider’s stock valued at $1,830,000 after buying an additional 6,560 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTAS. Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Wells Fargo & Company increased their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and an average target price of $199.63.

Insiders Place Their Bets

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Cintas Stock Up 1.1 %

Shares of NASDAQ:CTAS opened at $212.93 on Thursday. The business’s 50 day simple moving average is $213.58 and its two-hundred day simple moving average is $188.37. The firm has a market cap of $21.60 billion, a P/E ratio of 14.71, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $213.40.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 earnings per share. As a group, research analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.73%. Cintas’s payout ratio is currently 10.77%.

Cintas announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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.