Cim LLC Has $1.45 Million Stake in Cintas Co. (NASDAQ:CTAS)

Cim LLC lessened its position in Cintas Co. (NASDAQ:CTAS) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,076 shares of the business services provider’s stock after selling 73 shares during the period. Cim LLC’s holdings in Cintas were worth $1,454,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC raised its holdings in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas during the second quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas during the first quarter worth $29,000. Rise Advisors LLC bought a new stake in shares of Cintas in the first quarter worth $30,000. Finally, Meeder Asset Management Inc. increased its holdings in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Down 1.0 %

Cintas stock opened at $203.86 on Wednesday. The firm has a 50 day moving average price of $209.44 and a 200-day moving average price of $185.04. 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 twelve month low of $119.69 and a twelve month high of $211.57. The company has a market capitalization of $20.68 billion, a P/E ratio of 14.08, a P/E/G ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its 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. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous 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 announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Cintas Cuts Dividend

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

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CTAS shares. Wells Fargo & Company upped their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Royal Bank of Canada upped their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

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.