Sanibel Captiva Trust Company Inc. Increases Holdings in Cintas Co. (NASDAQ:CTAS)

Sanibel Captiva Trust Company Inc. grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,780 shares of the business services provider’s stock after buying an additional 1,335 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Cintas were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CTAS. Vanguard Group Inc. increased its position in shares of Cintas by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after purchasing an additional 112,361 shares in the last quarter. Legal & General Group Plc increased its position in shares of Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after purchasing an additional 3,471 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after purchasing an additional 37,727 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after purchasing an additional 486,500 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Cintas by 21.1% during the second quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after purchasing an additional 67,440 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s 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 sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CTAS shares. 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 report on Thursday, September 26th. Robert W. Baird increased their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. The Goldman Sachs Group increased their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company increased their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $208.05 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $211.63 and its two-hundred day moving average price is $186.98. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $211.57. The stock has a market capitalization of $21.11 billion, a P/E ratio of 14.37, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company posted $3.70 earnings per share. Cintas’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

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

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date 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%.

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.