Riverview Trust Co Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

Riverview Trust Co boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 309.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340 shares of the business services provider’s stock after buying an additional 257 shares during the period. Riverview Trust Co’s holdings in Cintas were worth $70,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Checchi Capital Advisers LLC lifted its stake in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after buying an additional 14 shares during the period. Axxcess Wealth Management LLC grew its stake in Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank increased its holdings in shares of Cintas by 25.0% in the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares during the period. Drive Wealth Management LLC lifted its holdings in shares of Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after purchasing an additional 16 shares during the period. Finally, TIAA Trust National Association increased its holdings in Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after buying an additional 16 shares during the period. Institutional investors own 63.46% of the company’s stock.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction 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 completion of the sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CTAS. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. UBS Group lifted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 0.1 %

Shares of Cintas stock opened at $214.02 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $215.37. The company’s 50-day simple moving average is $214.61 and its 200-day simple moving average is $188.85.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $3.70 earnings per share. As a group, equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has initiated a share buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Cintas Cuts Dividend

The company also recently disclosed 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 0.73%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is currently 10.77%.

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.