Cintas Co. (NASDAQ:CTAS) Shares Sold by Wealthquest Corp

Wealthquest Corp cut its holdings in Cintas Co. (NASDAQ:CTAS) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,848 shares of the business services provider’s stock after selling 71 shares during the quarter. Wealthquest Corp’s holdings in Cintas were worth $2,695,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CTAS. LGT Financial Advisors LLC increased its holdings in Cintas by 311.1% in the second 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 position in Cintas in the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas in the 1st quarter valued at approximately $29,000. Rise Advisors LLC purchased a new stake in Cintas during the first quarter worth $30,000. Finally, Meeder Asset Management Inc. grew its holdings in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CTAS shares. Jefferies Financial Group reduced their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a 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. Morgan Stanley upped their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Barclays lifted their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Up 1.7 %

CTAS opened at $205.88 on Tuesday. The stock’s fifty day moving average is $209.14 and its 200-day moving average is $184.71. Cintas Co. has a one year low of $119.69 and a one year high of $211.57. The company has a market capitalization of $20.89 billion, a PE ratio of 14.22, a P/E/G ratio of 4.09 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.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data 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 16.38% and a return on equity of 37.82%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm posted $3.70 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts predict that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio is 10.77%.

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 outstanding shares. This buyback authorization authorizes the business services provider to repurchase 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.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.