Wallace Advisory Group LLC Sells 113 Shares of Cintas Co. (NASDAQ:CTAS)

Wallace Advisory Group LLC reduced its stake in Cintas Co. (NASDAQ:CTAS) by 20.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 432 shares of the business services provider’s stock after selling 113 shares during the period. Wallace Advisory Group LLC’s holdings in Cintas were worth $303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Susquehanna Fundamental Investments LLC lifted its holdings in Cintas by 2,063.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after acquiring an additional 22,700 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after purchasing an additional 838 shares during the period. QRG Capital Management Inc. grew its position in shares of Cintas by 111.5% in the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after purchasing an additional 3,878 shares during the period. Thoroughbred Financial Services LLC increased its stake in Cintas by 105.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock worth $3,515,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Journey Advisory Group LLC raised its holdings in Cintas by 17.1% during the 2nd quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock worth $4,511,000 after buying an additional 940 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CTAS shares. Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Stifel Nicolaus increased their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Jefferies Financial Group decreased their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Finally, Morgan Stanley boosted their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Performance

Shares of CTAS stock opened at $205.88 on Tuesday. The company has a fifty day moving average price of $209.14 and a two-hundred day moving average price of $184.71. Cintas Co. has a one year low of $119.69 and a one year high of $211.57. The stock has a market cap of $20.89 billion, a P/E 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 current ratio of 1.74 and a quick ratio of 1.52.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $3.70 earnings per share. As a group, equities analysts predict that Cintas Co. will post 4.16 EPS for the current 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas declared that its board has authorized a stock buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 15.10% of the company’s stock.

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.