Commonwealth Equity Services LLC Has $13.41 Million Stake in Cintas Co. (NASDAQ:CTAS)

Commonwealth Equity Services LLC trimmed its stake in Cintas Co. (NASDAQ:CTAS) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,147 shares of the business services provider’s stock after selling 857 shares during the period. Commonwealth Equity Services LLC’s holdings in Cintas were worth $13,408,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CTAS. Vantage Financial Partners LLC acquired a new stake in shares of Cintas during the 4th quarter worth about $1,029,000. Aveo Capital Partners LLC grew its stake in Cintas by 4.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after buying an additional 44 shares during the last quarter. Merit Financial Group LLC grew its stake in Cintas by 14.5% during the fourth quarter. Merit Financial Group LLC now owns 1,378 shares of the business services provider’s stock worth $830,000 after buying an additional 175 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Cintas by 6.7% during the fourth quarter. Summit Trail Advisors LLC now owns 1,121 shares of the business services provider’s stock worth $676,000 after buying an additional 70 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new position in shares of Cintas in the fourth quarter valued at approximately $592,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Royal Bank of Canada lowered Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 target price for the company. in a research note on Monday, July 15th. Stifel Nicolaus upped their price target on shares of Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a report on Tuesday, August 13th. Finally, Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $670.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $742.36.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 1,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the sale, the director now directly owns 31,452 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 15.10% of the stock is currently owned by insiders.

Cintas Price Performance

Shares of CTAS opened at $799.40 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock has a market cap of $81.11 billion, a P/E ratio of 55.21, a price-to-earnings-growth ratio of 4.28 and a beta of 1.31. The stock’s 50-day moving average price is $751.00 and its two-hundred day moving average price is $696.30. Cintas Co. has a 1 year low of $474.74 and a 1 year high of $812.01.

Cintas’s stock is scheduled to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be issued to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, beating the consensus estimate of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm earned $3.33 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts predict that Cintas Co. will post 16.64 earnings per share for the current year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $1.56 dividend. This is an increase from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is 43.09%.

Cintas announced that its Board of Directors has approved a share repurchase program 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Cintas

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.