Trifecta Capital Advisors LLC Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Trifecta Capital Advisors LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,948 shares of the business services provider’s stock after buying an additional 1,461 shares during the period. Trifecta Capital Advisors LLC’s holdings in Cintas were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. LGT Financial Advisors LLC boosted its holdings in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas in the second quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas in the first quarter valued at $29,000. Rise Advisors LLC purchased a new position in shares of Cintas during the first quarter worth about $30,000. Finally, Grove Bank & Trust increased its position in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CTAS shares. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. Morgan Stanley increased their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Barclays boosted their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Up 0.4 %

Shares of Cintas stock opened at $213.82 on Friday. The company has a 50-day moving average of $214.11 and a two-hundred day moving average of $188.54. The stock has a market cap of $21.69 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $215.37.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm posted $3.70 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, research analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits 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 stock is undervalued.

Cintas Cuts Dividend

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

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.