Cintas Co. (NASDAQ:CTAS) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers boosted its stake in Cintas Co. (NASDAQ:CTAS) by 141.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,498 shares of the business services provider’s stock after buying an additional 14,930 shares during the period. Cetera Investment Advisers’ holdings in Cintas were worth $17,518,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cintas in the fourth quarter worth $872,895,000. Clearbridge Investments LLC grew its stake in shares of Cintas by 475.7% in the fourth quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock worth $180,423,000 after purchasing an additional 247,378 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Cintas by 711.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock worth $91,915,000 after purchasing an additional 133,713 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Cintas by 280.6% during the fourth quarter. BNP Paribas Financial Markets now owns 171,263 shares of the business services provider’s stock valued at $103,213,000 after buying an additional 126,266 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in Cintas during the first quarter valued at about $84,646,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the transaction, the director now owns 31,452 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 available through the SEC website. In other Cintas news, COO Jim Rozakis sold 1,318 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total value of $914,309.78. Following the sale, the chief operating officer now owns 59,770 shares of the company’s stock, valued at approximately $41,463,046.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gerald S. Adolph sold 1,100 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the sale, the director now directly owns 31,452 shares in the company, valued at approximately $24,083,425.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,709 shares of company stock valued at $3,346,441. 15.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank of Canada cut Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 target price for the company. in a research note on Monday, July 15th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Morgan Stanley increased their price target on Cintas from $575.00 to $625.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Robert W. Baird reiterated a “neutral” rating and issued a $775.00 price target (up previously from $750.00) on shares of Cintas in a research report on Friday, July 19th. Finally, Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price of $749.00.

Cintas Stock Down 0.7 %

Shares of Cintas stock traded down $5.15 during trading on Friday, reaching $756.76. The stock had a trading volume of 485,161 shares, compared to its average volume of 420,490. The company has a market capitalization of $76.26 billion, a price-to-earnings ratio of 52.26, a P/E/G ratio of 4.06 and a beta of 1.31. The stock has a fifty day moving average price of $713.86 and a two-hundred day moving average price of $669.48. Cintas Co. has a 52 week low of $474.74 and a 52 week high of $773.95. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47.

Shares of Cintas are going to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 18th. The business services provider reported $3.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.19. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.33 earnings per share. Sell-side analysts predict that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas declared that its Board of Directors has approved a share buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a $1.56 dividend. This is an increase from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $6.24 annualized dividend and a dividend yield of 0.82%. Cintas’s dividend payout ratio is presently 37.29%.

About Cintas

Cintas Corporation provides 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.