Coldstream Capital Management Inc. Has $898,000 Stock Position in Cintas Co. (NASDAQ:CTAS)

Coldstream Capital Management Inc. decreased its stake in Cintas Co. (NASDAQ:CTAS) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,282 shares of the business services provider’s stock after selling 48 shares during the period. Coldstream Capital Management Inc.’s holdings in Cintas were worth $898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CTAS. LGT Financial Advisors LLC grew its stake in shares of 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 acquiring an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas in the second quarter worth $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas in the first quarter worth $29,000. Rise Advisors LLC acquired a new stake in shares of Cintas in the first quarter worth $30,000. Finally, Webster Bank N. A. acquired a new stake in shares of Cintas in the first quarter worth $38,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup downgraded shares of Cintas from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $132.50 to $142.50 in a research note on Friday, May 24th. Morgan Stanley lifted their price target on shares of Cintas from $143.75 to $156.25 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. UBS Group lifted their price target on shares of Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $185.59.

Insider Activity at Cintas

In related 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 directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is currently owned by company insiders.

Cintas Stock Up 0.4 %

Shares of NASDAQ:CTAS opened at $819.83 on Thursday. Cintas Co. has a 52 week low of $474.74 and a 52 week high of $820.96. 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’s fifty day moving average is $203.08 and its 200-day moving average is $180.16. The company has a market capitalization of $83.18 billion, a PE ratio of 56.62, a P/E/G ratio of 4.16 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts predict that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The firm also recently declared 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 dividend yield of 0.19%. Cintas’s dividend payout ratio is 43.09%.

Cintas announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.