American Trust Trims Position in Cintas Co. (NASDAQ:CTAS)

American Trust lowered its position in shares of Cintas Co. (NASDAQ:CTAS) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,137 shares of the business services provider’s stock after selling 344 shares during the quarter. American Trust’s holdings in Cintas were worth $5,698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. LGT Financial Advisors LLC raised its holdings in shares of Cintas by 311.1% in 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 during the period. Atwood & Palmer Inc. purchased a new position in Cintas in the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas during the first quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in Cintas during the first quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. increased its position in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS stock opened at $203.86 on Wednesday. The company has a 50-day simple moving average of $209.44 and a 200 day simple moving average of $185.04. The company has a market capitalization of $20.68 billion, a P/E ratio of 14.08, a PEG ratio of 4.09 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. Cintas Co. has a fifty-two week low of $119.69 and a fifty-two week high of $211.57.

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 37.82% and a net margin of 16.38%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $3.70 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts predict that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

Cintas announced that its board 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was 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 in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CTAS shares. The Goldman Sachs Group boosted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Truist Financial boosted their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley raised their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $199.63.

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.