Cintas Co. (NASDAQ:CTAS) Shares Acquired by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 303.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,268 shares of the business services provider’s stock after purchasing an additional 30,281 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cintas were worth $8,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orgel Wealth Management LLC lifted its stake in shares of Cintas by 300.0% in the 3rd quarter. Orgel Wealth Management LLC now owns 2,000 shares of the business services provider’s stock worth $412,000 after acquiring an additional 1,500 shares during the period. OmniStar Financial Group Inc. acquired a new stake in Cintas in the third quarter valued at $776,000. Inspire Advisors LLC lifted its stake in shares of Cintas by 291.6% in the third quarter. Inspire Advisors LLC now owns 3,125 shares of the business services provider’s stock valued at $643,000 after purchasing an additional 2,327 shares during the period. Trust Point Inc. boosted its holdings in Cintas by 282.6% during the third quarter. Trust Point Inc. now owns 3,095 shares of the business services provider’s stock worth $637,000 after buying an additional 2,286 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in Cintas by 437.8% during the third quarter. Aaron Wealth Advisors LLC now owns 2,748 shares of the business services provider’s stock worth $566,000 after buying an additional 2,237 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Up 0.1 %

Shares of NASDAQ:CTAS opened at $214.02 on Friday. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37. The stock has a 50-day simple moving average of $214.61 and a 200-day simple moving average of $188.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a market capitalization of $21.72 billion, a P/E ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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 company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.70 earnings per share. Equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Cuts Dividend

The company also recently disclosed 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 of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.73%. Cintas’s dividend payout ratio is currently 10.77%.

Cintas announced that its Board of Directors has initiated a share 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

CTAS has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Truist Financial upped their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Stifel Nicolaus raised their target price on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Finally, Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $199.63.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.10% of the stock is currently owned by corporate insiders.

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.