Cintas Co. (NASDAQ:CTAS) Shares Purchased by Traynor Capital Management Inc.

Traynor Capital Management Inc. boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 25.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 374 shares of the business services provider’s stock after purchasing an additional 77 shares during the period. Traynor Capital Management Inc.’s holdings in Cintas were worth $262,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the second quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas during the 1st quarter worth approximately $29,000. Rise Advisors LLC acquired a new stake in Cintas during the 1st quarter valued at approximately $30,000. Webster Bank N. A. purchased a new stake in shares of Cintas in the 1st quarter valued at $38,000. Finally, DSM Capital Partners LLC purchased a new position in shares of Cintas during the fourth quarter worth $40,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of Cintas stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the sale, the director now directly owns 31,452 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CTAS has been the topic of several analyst reports. Wells Fargo & Company raised Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Morgan Stanley lifted their target price on shares of Cintas from $575.00 to $625.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Barclays upped their price objective on shares of Cintas from $700.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $670.00 target price for the company. Finally, UBS Group boosted their price target on shares of Cintas from $790.00 to $874.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $742.36.

Cintas Price Performance

Shares of Cintas stock traded up $3.86 on Friday, hitting $788.50. 257,244 shares of the company were exchanged, compared to its average volume of 372,748. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $738.41 and a 200 day moving average price of $686.24. The stock has a market capitalization of $80.00 billion, a price-to-earnings ratio of 54.45, a price-to-earnings-growth ratio of 4.06 and a beta of 1.31. Cintas Co. has a 1-year low of $474.74 and a 1-year high of $791.65.

Cintas shares are scheduled to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be issued to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 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 net margin of 16.38% and a return on equity of 37.82%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.33 EPS. As a group, sell-side analysts predict that Cintas Co. will post 16.62 earnings per share for the current fiscal year.

Cintas declared that its board has initiated a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a $1.56 dividend. This is a positive change from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a yield of 0.79%. The ex-dividend date is Thursday, August 15th. Cintas’s payout ratio is 43.09%.

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.