Cintas Co. (NASDAQ:CTAS) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. trimmed its position in shares of Cintas Co. (NASDAQ:CTAS) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,436 shares of the business services provider’s stock after selling 89 shares during the period. Benjamin Edwards Inc.’s holdings in Cintas were worth $1,706,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Cintas by 2.2% during 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 in the last quarter. QRG Capital Management Inc. grew its holdings in Cintas by 111.5% during 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 in the last quarter. Thoroughbred Financial Services LLC grew its holdings 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 valued at $3,515,000 after purchasing an additional 2,580 shares in the last quarter. Journey Advisory Group LLC boosted its stake 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 valued at $4,511,000 after acquiring an additional 940 shares during the last quarter. Finally, Bensler LLC boosted its stake in Cintas by 4.7% during the 2nd quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock valued at $10,048,000 after acquiring an additional 646 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Citigroup downgraded shares of Cintas from a “neutral” rating to a “sell” rating and increased their price objective for the company from $132.50 to $142.50 in a research note on Friday, May 24th. Wells Fargo & Company upgraded shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Robert W. Baird reiterated a “neutral” rating and set a $193.75 price objective (up from $187.50) on shares of Cintas in a research note on Friday, July 19th. Truist Financial increased 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. Finally, Barclays reduced their price objective on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $186.30.

Cintas Stock Up 1.2 %

CTAS stock opened at $203.74 on Friday. 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 $118.68 and a fifty-two week high of $209.12. The firm’s 50-day simple moving average is $206.29 and its 200 day simple moving average is $181.97. The stock has a market cap of $20.67 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. As a group, sell-side analysts predict that Cintas Co. will post 16.64 EPS for the current year.

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.77%. Cintas’s payout ratio is 10.77%.

Cintas declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling 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 transaction of $842,292.00. Following 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 filing with the SEC, which can be accessed through this link. 15.10% of the stock is 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.