Cintas Co. (NASDAQ:CTAS) Stock Holdings Lessened by STF Management LP

STF Management LP cut its stake in shares of Cintas Co. (NASDAQ:CTAS) by 4.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,615 shares of the business services provider’s stock after selling 73 shares during the quarter. STF Management LP’s holdings in Cintas were worth $1,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in Cintas during the 4th quarter worth about $872,895,000. Clearbridge Investments LLC raised its holdings in shares of Cintas by 475.7% during the fourth quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock valued at $180,423,000 after acquiring an additional 247,378 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after acquiring an additional 201,955 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Cintas by 711.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock worth $91,915,000 after purchasing an additional 133,713 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in Cintas during the 1st quarter worth approximately $84,646,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 0.8 %

CTAS opened at $207.77 on Monday. The firm has a market cap of $21.08 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. 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 business has a 50 day moving average price of $204.28 and a 200 day moving average price of $181.01. Cintas Co. has a twelve month low of $118.68 and a twelve month 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, topping the consensus estimate of $0.95 by $0.05. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. Cintas’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. Research analysts forecast that Cintas Co. will post 16.64 EPS for the current year.

Cintas declared that its Board of Directors has approved a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas’s dividend payout ratio is presently 10.77%.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of Cintas 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 directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTAS shares. Morgan Stanley raised their target price on Cintas from $143.75 to $156.25 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. 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. Royal Bank of Canada downgraded shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price objective on the stock. in a research report on Monday, July 15th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average 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.