Park Avenue Securities LLC Purchases 19,963 Shares of Cintas Co. (NASDAQ:CTAS)

Park Avenue Securities LLC boosted its position in Cintas Co. (NASDAQ:CTAS) by 265.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,486 shares of the business services provider’s stock after acquiring an additional 19,963 shares during the period. Park Avenue Securities LLC’s holdings in Cintas were worth $5,659,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CTAS. LGT Financial Advisors LLC grew its stake in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas in the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas in the 1st quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in shares of Cintas during the first quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Insider Activity

In other news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction on 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 directly owns 125,808 shares in the company, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 15.10% of the company’s stock.

Cintas Stock Up 0.2 %

Shares of CTAS traded up $0.36 during trading hours on Friday, hitting $204.91. The company had a trading volume of 1,747,411 shares, compared to its average volume of 1,492,867. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 4.09 and a beta of 1.32. The firm has a fifty day moving average price of $210.38 and a 200-day moving average price of $185.66. 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 issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (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 business 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 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts forecast that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas declared that its board has authorized a stock buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans 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. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is currently 10.77%.

Analysts Set New Price Targets

CTAS has been the topic of several recent analyst reports. 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 report on Thursday, September 26th. Jefferies Financial Group reduced their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Stifel Nicolaus raised their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.