KMG Fiduciary Partners LLC Has $1.07 Million Stake in Cintas Co. (NASDAQ:CTAS)

KMG Fiduciary Partners LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 300.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,204 shares of the business services provider’s stock after acquiring an additional 3,905 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Cintas were worth $1,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its holdings in Cintas by 12.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after acquiring an additional 58 shares in the last quarter. RFG Advisory LLC bought a new stake in shares of Cintas during the 1st quarter worth approximately $228,000. &PARTNERS acquired a new stake in shares of Cintas in the 1st quarter valued at approximately $629,000. Traynor Capital Management Inc. bought a new position in shares of Cintas in the first quarter valued at $204,000. Finally, Global Assets Advisory LLC acquired a new position in Cintas during the first quarter worth $84,646,000. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CTAS shares. The Goldman Sachs Group lifted their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Jefferies Financial Group cut their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Stifel Nicolaus lifted their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Price Performance

Shares of Cintas stock opened at $214.02 on Friday. The company has a 50-day simple moving average of $214.61 and a two-hundred day simple moving average of $188.99. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $215.37. The stock has a market capitalization of $21.72 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

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

Cintas Cuts Dividend

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

Cintas announced that its board has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’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 transaction, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.10% of the stock is owned by 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.