KPP Advisory Services LLC Buys 71 Shares of Cintas Co. (NASDAQ:CTAS)

KPP Advisory Services LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 19.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 434 shares of the business services provider’s stock after purchasing an additional 71 shares during the period. KPP Advisory Services LLC’s holdings in Cintas were worth $304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Founders Financial Alliance LLC bought a new stake in Cintas in the second quarter valued at $317,000. Cetera Investment Advisers increased its stake in Cintas by 2.6% in the second quarter. Cetera Investment Advisers now owns 26,170 shares of the business services provider’s stock valued at $18,326,000 after purchasing an additional 672 shares in the last quarter. 3Chopt Investment Partners LLC bought a new stake in Cintas in the second quarter valued at $555,000. Advisory Alpha LLC bought a new stake in Cintas in the second quarter valued at $248,000. Finally, HWG Holdings LP bought a new stake in Cintas in the second quarter valued at $405,000. 63.46% of the stock is owned by institutional investors.

Cintas Stock Down 1.0 %

Cintas stock opened at $203.86 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The stock has a market cap of $20.68 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas Co. has a fifty-two week low of $119.69 and a fifty-two week high of $211.57. The firm’s 50-day simple moving average is $209.44 and its 200 day simple moving average is $185.04.

Cintas (NASDAQ:CTAS) last released its 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 firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.70 earnings per share. Research analysts predict that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Thursday, August 15th. Cintas’s payout ratio is 10.77%.

Cintas announced that its Board of Directors has approved 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target 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. Truist Financial boosted their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada boosted their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s 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 transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

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.