Retirement Guys Formula LLC Grows Holdings in Cintas Co. (NASDAQ:CTAS)

Retirement Guys Formula LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 290.0% during the 3rd quarter, Holdings Channel reports. The firm owned 3,955 shares of the business services provider’s stock after purchasing an additional 2,941 shares during the quarter. Retirement Guys Formula LLC’s holdings in Cintas were worth $814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas in the 2nd quarter worth $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas during the 1st quarter valued at $29,000. Meeder Asset Management Inc. grew its holdings in shares of Cintas by 226.7% during the 2nd 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. Finally, Webster Bank N. A. bought a new position in shares of Cintas during the 1st quarter valued at $38,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTAS. UBS Group increased their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Stifel Nicolaus increased their price target on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Truist Financial increased their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group dropped their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Down 1.1 %

Shares of Cintas stock traded down $2.38 during trading on Monday, hitting $211.64. The company’s stock had a trading volume of 269,982 shares, compared to its average volume of 1,469,904. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a fifty day simple moving average of $214.61 and a two-hundred day simple moving average of $189.12. The company has a market capitalization of $21.47 billion, a PE ratio of 14.78, a P/E/G 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.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $3.70 EPS. Equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

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 paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. Cintas’s payout ratio is 10.77%.

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

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the 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 transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.10% of the stock is owned by company 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.