Paragon Capital Management Inc. Boosts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Paragon Capital Management Inc. raised its holdings in Cintas Co. (NASDAQ:CTAS) by 282.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,181 shares of the business services provider’s stock after purchasing an additional 7,517 shares during the quarter. Cintas accounts for about 1.5% of Paragon Capital Management Inc.’s holdings, making the stock its 17th biggest position. Paragon Capital Management Inc.’s holdings in Cintas were worth $2,096,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Cintas in the third quarter valued at about $231,000. Vontobel Holding Ltd. grew its holdings in Cintas by 257.3% in the third quarter. Vontobel Holding Ltd. now owns 120,739 shares of the business services provider’s stock valued at $24,858,000 after purchasing an additional 86,950 shares during the last quarter. Terra Nova Asset Management LLC increased its position in shares of Cintas by 271.1% in the third quarter. Terra Nova Asset Management LLC now owns 3,262 shares of the business services provider’s stock valued at $672,000 after buying an additional 2,383 shares in the last quarter. McKinley Carter Wealth Services Inc. raised its stake in shares of Cintas by 299.5% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 4,602 shares of the business services provider’s stock worth $948,000 after buying an additional 3,450 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its position in shares of Cintas by 284.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 16,508 shares of the business services provider’s stock worth $3,399,000 after buying an additional 12,218 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 1.1 %

Shares of CTAS opened at $212.93 on Thursday. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $213.40. The firm has a market capitalization of $21.60 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $213.58 and its 200 day simple moving average is $188.37.

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

Cintas announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.73%. Cintas’s dividend payout ratio (DPR) is 10.77%.

Insiders Place Their Bets

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 transaction of $842,292.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CTAS shares. Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Robert W. Baird boosted their target price on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note 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. Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Two research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Company 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.