Cintas Co. (NASDAQ:CTAS) Stake Raised by American National Bank & Trust

American National Bank & Trust raised its holdings in Cintas Co. (NASDAQ:CTAS) by 283.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,808 shares of the business services provider’s stock after acquiring an additional 4,294 shares during the quarter. American National Bank & Trust’s holdings in Cintas were worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CTAS. Creative Planning lifted its stake in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in shares of Cintas by 2,063.6% during the 2nd 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 in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after acquiring an additional 838 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Cintas by 111.5% during the second 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 during the period. Finally, Thoroughbred Financial Services LLC lifted its holdings in shares of Cintas by 105.7% during the second 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. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $205.30 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12 month low of $119.73 and a 12 month high of $211.57. The company’s fifty day moving average is $209.77 and its 200-day moving average is $185.19. The firm has a market cap of $20.83 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business posted $3.70 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts expect that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CTAS shares. Morgan Stanley lifted their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted 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. Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Truist Financial lifted their price objective 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. Finally, Stifel Nicolaus increased their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Insider Buying and Selling at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s 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 completion of the sale, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 15.10% of the company’s stock.

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.