Capital Investment Advisors LLC Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Capital Investment Advisors LLC raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 341.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,532 shares of the business services provider’s stock after purchasing an additional 1,959 shares during the quarter. Capital Investment Advisors LLC’s holdings in Cintas were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Checchi Capital Advisers LLC boosted its position in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after purchasing an additional 14 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after buying an additional 14 shares in the last quarter. Field & Main Bank grew its position in shares of Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after buying an additional 15 shares during the period. Drive Wealth Management LLC grew its position in shares of Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after buying an additional 16 shares during the period. Finally, TIAA Trust National Association increased its stake in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction that occurred 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 transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.10% of the company’s stock.

Cintas Trading Down 1.2 %

Shares of CTAS stock opened at $211.55 on Tuesday. The stock has a market capitalization of $21.46 billion, a P/E ratio of 14.61, a P/E/G ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $215.04 and its 200 day moving average is $189.44. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $215.37.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 earnings per share. Research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has authorized a stock buyback program 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective for the company. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Finally, Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $199.63.

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.