MinichMacGregor Wealth Management LLC Purchases Shares of 41,308 Cintas Co. (NASDAQ:CTAS)

MinichMacGregor Wealth Management LLC acquired a new position in Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 41,308 shares of the business services provider’s stock, valued at approximately $8,504,000. Cintas accounts for approximately 1.8% of MinichMacGregor Wealth Management LLC’s holdings, making the stock its 24th biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. Norden Group LLC grew its position in shares of Cintas by 120.9% during the first quarter. Norden Group LLC now owns 824 shares of the business services provider’s stock worth $566,000 after purchasing an additional 451 shares in the last quarter. TFB Advisors LLC grew its holdings in Cintas by 31.9% during the 1st quarter. TFB Advisors LLC now owns 504 shares of the business services provider’s stock valued at $334,000 after buying an additional 122 shares in the last quarter. Richardson Financial Services Inc. raised its position in shares of Cintas by 9.9% during the first quarter. Richardson Financial Services Inc. now owns 1,890 shares of the business services provider’s stock valued at $1,298,000 after buying an additional 170 shares during the last quarter. Team Hewins LLC purchased a new position in shares of Cintas in the first quarter worth $205,000. Finally, Financial Council LLC purchased a new position in Cintas during the first quarter valued at $225,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 1.1 %

Shares of NASDAQ:CTAS traded up $2.22 on Tuesday, hitting $209.78. 181,369 shares of the company’s stock were exchanged, compared to its average volume of 1,445,507. The business’s 50 day simple moving average is $217.93 and its two-hundred day simple moving average is $192.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a market capitalization of $84.60 billion, a price-to-earnings ratio of 52.41, a price-to-earnings-growth ratio of 4.05 and a beta of 1.32. Cintas Co. has a 12 month low of $128.92 and a 12 month high of $215.37.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $3.70 EPS. Analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a stock buyback program 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 programs are generally a sign that the company’s management believes its shares are undervalued.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.74%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Analysts Set New Price Targets

Several brokerages have commented on CTAS. Robert W. Baird boosted their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Barclays increased their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. The Goldman Sachs Group boosted their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. Finally, Jefferies Financial Group decreased their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.