Annex Advisory Services LLC Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Annex Advisory Services LLC increased its stake in Cintas Co. (NASDAQ:CTAS) by 335.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,453 shares of the business services provider’s stock after acquiring an additional 96,660 shares during the period. Cintas comprises about 0.8% of Annex Advisory Services LLC’s holdings, making the stock its 28th largest holding. Annex Advisory Services LLC owned approximately 0.12% of Cintas worth $25,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. LGT Financial Advisors LLC boosted its stake in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. bought a new stake in Cintas during the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas during the 1st quarter valued at $29,000. Rise Advisors LLC bought a new stake in Cintas in the 1st quarter worth $30,000. Finally, Meeder Asset Management Inc. increased its position in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction of $842,292.00. Following the sale, the director now owns 125,808 shares in the company, valued at $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $208.05 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a 50 day moving average price of $212.01 and a 200-day moving average price of $187.53. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $211.57. The firm has a market capitalization of $21.11 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the business earned $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has authorized 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Cintas Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. Cintas’s dividend payout ratio is currently 10.77%.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Robert W. Baird boosted their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group dropped their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Finally, UBS Group lifted their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.63.

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.