Tandem Investment Advisors Inc. Acquires Shares of 975 Cintas Co. (NASDAQ:CTAS)

Tandem Investment Advisors Inc. bought a new position in shares of Cintas Co. (NASDAQ:CTAS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 975 shares of the business services provider’s stock, valued at approximately $201,000.

Several other institutional investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC raised its holdings in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Cintas during the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas during the first quarter worth about $29,000. Meeder Asset Management Inc. grew 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 worth $34,000 after purchasing an additional 34 shares during the period. Finally, Crewe Advisors LLC increased its stake in shares of Cintas by 133.3% during the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CTAS shares. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Stifel Nicolaus upped their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, UBS Group boosted their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $219.52 on Friday. The company has a market cap of $88.53 billion, a P/E ratio of 55.43, a P/E/G ratio of 4.09 and a beta of 1.32. Cintas Co. has a 52-week low of $131.01 and a 52-week high of $219.87. 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 firm’s fifty day moving average is $218.46 and its two-hundred day moving average is $192.79.

Cintas (NASDAQ:CTAS) last issued its 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $3.70 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

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

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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.