Octavia Wealth Advisors LLC Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

Octavia Wealth Advisors LLC boosted its position in Cintas Co. (NASDAQ:CTAS) by 282.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,677 shares of the business services provider’s stock after buying an additional 1,238 shares during the period. Octavia Wealth Advisors LLC’s holdings in Cintas were worth $345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC grew its position in Cintas by 311.1% in the 2nd 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 during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas in the second quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas in the first quarter valued at $29,000. Rise Advisors LLC acquired a new stake in Cintas in the first quarter valued at $30,000. Finally, Meeder Asset Management Inc. lifted its holdings in 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 acquiring an additional 34 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Up 0.9 %

Shares of NASDAQ:CTAS opened at $208.05 on Friday. The stock has a 50-day simple moving average of $212.01 and a 200-day simple moving average of $187.32. The stock has a market capitalization of $21.11 billion, a P/E ratio of 14.37, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $211.57.

Cintas (NASDAQ:CTAS) last released 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. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.70 EPS. Equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas announced that its board has initiated a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on CTAS shares. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. UBS Group lifted their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird lifted their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $199.63.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $24,083,425.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.10% of the stock is currently owned by corporate insiders.

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.