Mackenzie Financial Corp Purchases 354 Shares of Cintas Co. (NASDAQ:CTAS)

Mackenzie Financial Corp raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,744 shares of the business services provider’s stock after acquiring an additional 354 shares during the period. Mackenzie Financial Corp’s holdings in Cintas were worth $6,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTAS. Los Angeles Capital Management LLC boosted its stake in 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 valued at $256,326,000 after purchasing an additional 201,955 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of Cintas by 711.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock worth $91,915,000 after acquiring an additional 133,713 shares during the last quarter. Global Assets Advisory LLC bought a new position in Cintas during the first quarter worth $84,646,000. Vanguard Group Inc. raised its stake in Cintas by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after purchasing an additional 112,361 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in Cintas by 124.9% in the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock valued at $134,318,000 after purchasing an additional 108,582 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 1.7 %

Shares of CTAS stock opened at $205.88 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $20.89 billion, a P/E ratio of 14.22, a P/E/G ratio of 4.09 and a beta of 1.32. Cintas Co. has a 12-month low of $119.69 and a 12-month high of $211.57. The firm has a 50-day moving average price of $209.14 and a 200 day moving average price of $184.71.

Cintas (NASDAQ:CTAS) last announced its 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 business 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 earned $3.70 EPS. Cintas’s revenue was up 6.8% compared to the same quarter last year. Research analysts forecast that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in 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 typically an indication that the company’s board of directors believes its stock is undervalued.

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas’s dividend payout ratio is 10.77%.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CTAS shares. Stifel Nicolaus boosted 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. Morgan Stanley boosted their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Jefferies Financial Group lowered their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group raised their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $199.63.

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.