3,728 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC bought a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 3,728 shares of the business services provider’s stock, valued at approximately $768,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTAS. B. Riley Wealth Advisors Inc. raised its holdings in Cintas by 12.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after purchasing an additional 58 shares in the last quarter. RFG Advisory LLC bought a new stake in Cintas during the first quarter worth approximately $228,000. Traynor Capital Management Inc. bought a new stake in Cintas during the first quarter worth approximately $204,000. Harbor Investment Advisory LLC raised its holdings in Cintas by 5.4% during the first quarter. Harbor Investment Advisory LLC now owns 349 shares of the business services provider’s stock worth $240,000 after purchasing an additional 18 shares in the last quarter. Finally, Annex Advisory Services LLC raised its holdings in Cintas by 8.2% during the first quarter. Annex Advisory Services LLC now owns 27,256 shares of the business services provider’s stock worth $18,725,000 after purchasing an additional 2,068 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several recent research reports. UBS Group lifted their price target 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. 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 report on Friday, July 19th. Royal Bank of Canada lifted their price target 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. Morgan Stanley lifted their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird lifted their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Two 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $199.63.

Insider Activity

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 value of $842,292.00. Following the completion of the sale, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.10% of the stock is currently owned by corporate insiders.

Cintas Trading Up 0.1 %

Cintas stock opened at $214.02 on Monday. The company’s fifty day simple moving average is $214.61 and its 200-day simple moving average is $189.12. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The stock has a market cap of $21.72 billion, a P/E ratio of 14.78, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company posted $3.70 EPS. Cintas’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio is currently 10.77%.

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

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.