Cintas Co. (NASDAQ:CTAS) Shares Purchased by Sigma Planning Corp

Sigma Planning Corp lifted its position in Cintas Co. (NASDAQ:CTAS) by 444.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,929 shares of the business services provider’s stock after acquiring an additional 2,391 shares during the quarter. Sigma Planning Corp’s holdings in Cintas were worth $603,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CTAS. LGT Financial Advisors LLC grew its position in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Financial Management Professionals Inc. grew its position in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Hollencrest Capital Management grew its position in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Cintas in the 2nd quarter worth approximately $27,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Cintas in the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 2.9 %

Shares of Cintas stock opened at $217.05 on Friday. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35. 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 business’s fifty day moving average price is $220.75 and its two-hundred day moving average price is $194.79. The company has a market capitalization of $87.54 billion, a P/E ratio of 54.81, a PEG ratio of 4.43 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping 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 company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the business earned $3.70 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is presently 39.39%.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research reports. UBS Group lifted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley boosted their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Barclays boosted their price objective 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 objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.