Cintas Co. (NASDAQ:CTAS) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in shares of Cintas Co. (NASDAQ:CTAS) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,477 shares of the business services provider’s stock after selling 363 shares during the quarter. Pacer Advisors Inc.’s holdings in Cintas were worth $11,538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in shares of Cintas by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after buying an additional 838 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Cintas by 111.5% during the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after buying an additional 3,878 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in shares of Cintas by 105.7% during the second quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock worth $3,515,000 after buying an additional 2,580 shares in the last quarter. Journey Advisory Group LLC boosted its holdings in Cintas by 17.1% in the second quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock valued at $4,511,000 after purchasing an additional 940 shares in the last quarter. Finally, Bensler LLC boosted its holdings in Cintas by 4.7% in the second quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock valued at $10,048,000 after purchasing an additional 646 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CTAS shares. UBS Group upped their price target on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a report on Friday, July 19th. Redburn Atlantic started coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Royal Bank of Canada downgraded Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price target for the company. in a report on Monday, July 15th. Morgan Stanley upped their price target on Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a report on Friday, July 19th. Finally, StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. 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.com, the company has an average rating of “Hold” and an average price target of $186.30.

Cintas Price Performance

Cintas stock opened at $204.16 on Monday. Cintas Co. has a 12 month low of $118.68 and a 12 month high of $209.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The business has a 50 day simple moving average of $206.76 and a 200-day simple moving average of $182.66. The stock has a market capitalization of $20.71 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

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

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid 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 (DPR) is presently 10.77%.

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

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the sale, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.10% of the company’s stock.

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.