IFG Advisors LLC Has $27.64 Million Position in Cintas Co. (NASDAQ:CTAS)

IFG Advisors LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 308.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 134,271 shares of the business services provider’s stock after purchasing an additional 101,430 shares during the period. Cintas comprises approximately 5.9% of IFG Advisors LLC’s portfolio, making the stock its 5th biggest position. IFG Advisors LLC’s holdings in Cintas were worth $27,644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its holdings in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in shares of Cintas in the 1st quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in shares of Cintas in the 1st quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after buying an additional 34 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 0.1 %

CTAS opened at $214.02 on Friday. The business’s fifty day simple moving average is $214.61 and its 200 day simple moving average is $188.85. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $215.37. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a market cap of $21.72 billion, a PE ratio of 14.78, a P/E/G ratio of 4.12 and a beta of 1.32.

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

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 dividend yield of 0.73%. Cintas’s payout ratio is 10.77%.

Cintas declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CTAS. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. Barclays boosted their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two equities 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. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus target price of $199.63.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the 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 directly owns 125,808 shares in the company, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.10% of the stock is owned by company insiders.

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.