Massmutual Trust Co. FSB ADV Acquires 8,085 Shares of Cintas Co. (NASDAQ:CTAS)

Massmutual Trust Co. FSB ADV raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 281.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,961 shares of the business services provider’s stock after acquiring an additional 8,085 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Cintas were worth $2,257,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew 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 acquiring an additional 112,361 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Cintas by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after acquiring an additional 3,471 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Cintas by 6.3% during the 1st 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 grew its stake in shares of Cintas by 21.1% during the 2nd 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. Finally, Los Angeles Capital Management LLC grew its stake in shares of Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after acquiring an additional 201,955 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, 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 SEC, which is accessible through this hyperlink. 15.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CTAS has been the subject of several analyst reports. UBS Group raised their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Barclays raised their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Two research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Down 0.4 %

Shares of NASDAQ CTAS opened at $204.55 on Friday. The stock has a market capitalization of $20.75 billion, a P/E ratio of 14.13, a PEG ratio of 4.09 and a beta of 1.32. The stock’s fifty day moving average is $210.09 and its 200 day moving average is $185.32. Cintas Co. has a 52 week low of $119.86 and a 52 week high of $211.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the firm earned $3.70 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts forecast that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

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

Cintas Cuts Dividend

The firm also recently declared 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 of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s payout ratio is 10.77%.

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.