Park Place Capital Corp Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Park Place Capital Corp grew its position in Cintas Co. (NASDAQ:CTAS) by 288.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,529 shares of the business services provider’s stock after purchasing an additional 1,878 shares during the period. Park Place Capital Corp’s holdings in Cintas were worth $521,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CTAS. LGT Financial Advisors LLC increased its position 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 valued at $26,000 after buying an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the second quarter worth about $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas during the first quarter worth about $29,000. Rise Advisors LLC purchased a new stake in Cintas during the 1st quarter valued at about $30,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of 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 last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 1.0 %

Shares of CTAS traded up $1.96 during midday trading on Tuesday, hitting $206.43. The stock had a trading volume of 325,188 shares, compared to its average volume of 1,485,656. The firm has a market cap of $20.95 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas Co. has a fifty-two week low of $122.60 and a fifty-two week high of $211.57. The business has a 50-day simple moving average of $210.38 and a two-hundred day simple moving average of $186.05. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last issued its quarterly 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 return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business posted $3.70 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts forecast that Cintas Co. will post 4.16 EPS for the current year.

Cintas Cuts Dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is 10.77%.

Cintas announced that its board has initiated a share repurchase plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CTAS shares. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. The Goldman Sachs Group boosted their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” 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 report on Friday, September 27th. Finally, Morgan Stanley upped their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Two investment 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. Based on data from MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $199.63.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’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 value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.