Brookstone Capital Management Increases Stake in Cintas Co. (NASDAQ:CTAS)

Brookstone Capital Management raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 209.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,081 shares of the business services provider’s stock after purchasing an additional 732 shares during the quarter. Brookstone Capital Management’s holdings in Cintas were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CTAS. SG Americas Securities LLC grew its stake in Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Cintas by 123.1% in the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after purchasing an additional 201,955 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Cintas in the first quarter valued at approximately $84,646,000. Congress Asset Management Co. MA increased its holdings in shares of Cintas by 124.9% in the first quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock valued at $134,318,000 after purchasing an additional 108,582 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Cintas in the 2nd quarter valued at $71,824,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTAS. Stifel Nicolaus lifted their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. UBS Group lifted their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada increased their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 1.7 %

Shares of NASDAQ:CTAS opened at $211.50 on Tuesday. The firm’s 50-day moving average is $212.54 and its two-hundred day moving average is $187.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $212.22. The firm has a market capitalization of $21.46 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 4.12 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for 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%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.70 EPS. Analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas declared that its board has approved a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was 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 owns 125,808 shares in the company, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.10% of the stock is currently owned by insiders.

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.