Cintas Co. (NASDAQ:CTAS) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,814 shares of the business services provider’s stock after acquiring an additional 575 shares during the quarter. The Manufacturers Life Insurance Company owned 0.15% of Cintas worth $107,010,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CTAS. Vanguard Group Inc. raised its stake in shares of Cintas by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after buying an additional 112,361 shares in the last quarter. Nordea Investment Management AB raised its position in Cintas by 6.3% in the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after acquiring an additional 37,727 shares in the last quarter. Acadian Asset Management LLC raised its position in Cintas by 21.1% in the second quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after acquiring an additional 67,440 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Cintas by 123.1% in the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after acquiring an additional 201,955 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in shares of Cintas by 1.7% during the 2nd quarter. Bahl & Gaynor Inc. now owns 212,961 shares of the business services provider’s stock worth $149,128,000 after purchasing an additional 3,540 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial raised 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, September 17th. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday. Stifel Nicolaus upped their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $202.35 on Friday. The company has a 50-day simple moving average of $208.63 and a 200-day simple moving average of $183.66. 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 company has a market cap of $20.53 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas Co. has a 12 month low of $119.69 and a 12 month high of $211.57.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping 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 firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company earned $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Cintas Co. will post 4.16 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. Shareholders of record on Thursday, August 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is currently 10.77%.

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

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction 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 directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.10% of the stock is owned by company insiders.

Cintas Company 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.