Thompson Siegel & Walmsley LLC Grows Stake in Cintas Co. (NASDAQ:CTAS)

Thompson Siegel & Walmsley LLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 476.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,728 shares of the business services provider’s stock after purchasing an additional 1,428 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Cintas were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. J.W. Cole Advisors Inc. increased its stake in Cintas by 50.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 963 shares of the business services provider’s stock valued at $675,000 after purchasing an additional 324 shares in the last quarter. Prosperity Consulting Group LLC grew its holdings in shares of Cintas by 38.2% during the second quarter. Prosperity Consulting Group LLC now owns 713 shares of the business services provider’s stock valued at $499,000 after buying an additional 197 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Cintas by 14.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,860 shares of the business services provider’s stock valued at $6,204,000 after acquiring an additional 1,129 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in Cintas by 17.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 547 shares of the business services provider’s stock worth $383,000 after acquiring an additional 82 shares during the last quarter. Finally, Thoroughbred Financial Services LLC lifted its position in Cintas by 105.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock valued at $3,515,000 after acquiring an additional 2,580 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CTAS shares. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Robert W. Baird reiterated a “neutral” rating and issued a $193.75 price objective (up from $187.50) on shares of Cintas in a report on Friday, July 19th. Citigroup cut shares of Cintas from a “neutral” rating to a “sell” rating and upped their target price for the company from $132.50 to $142.50 in a research note on Friday, May 24th. Morgan Stanley raised their price target on shares of Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a report on Friday, July 19th. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $185.41.

Cintas Trading Down 1.4 %

NASDAQ:CTAS opened at $204.95 on Tuesday. Cintas Co. has a one year low of $118.68 and a one year high of $209.12. The business has a fifty day moving average price of $204.83 and a 200-day moving average price of $181.35. The firm has a market capitalization of $20.79 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. Cintas’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 16.64 EPS for the current year.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is currently 10.77%.

Cintas announced that its board has approved a share buyback plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Cintas

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.