SG Americas Securities LLC Purchases 486,500 Shares of Cintas Co. (NASDAQ:CTAS)

SG Americas Securities LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 3,302.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 501,233 shares of the business services provider’s stock after purchasing an additional 486,500 shares during the quarter. Cintas makes up about 0.4% of SG Americas Securities LLC’s investment portfolio, making the stock its 29th largest holding. SG Americas Securities LLC owned approximately 0.49% of Cintas worth $103,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning lifted its holdings in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its position in shares of Cintas by 2,063.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after acquiring an additional 22,700 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Cintas by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after acquiring an additional 838 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Cintas by 111.5% in the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after purchasing an additional 3,878 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its holdings in shares of Cintas by 105.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock valued at $3,515,000 after purchasing an additional 2,580 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Cintas Trading Down 0.4 %

Shares of NASDAQ CTAS opened at $204.55 on Friday. The business’s 50 day moving average price is $210.09 and its 200-day moving average price is $185.32. Cintas Co. has a fifty-two week low of $119.86 and a fifty-two week high of $211.57. 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 company has a market cap of $20.75 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 4.09 and a beta of 1.32.

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, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $3.70 earnings per share. On average, sell-side analysts expect that Cintas Co. will post 4.16 earnings per share for the current year.

Cintas declared that its board has approved a share repurchase 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 buy up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

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. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio is currently 10.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTAS. UBS Group lifted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley lifted their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Barclays boosted their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $199.63.

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.