Retirement Guys Formula LLC Has $814,000 Holdings in Cintas Co. (NASDAQ:CTAS)

Retirement Guys Formula LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 290.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,955 shares of the business services provider’s stock after purchasing an additional 2,941 shares during the period. Retirement Guys Formula LLC’s holdings in Cintas were worth $814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CTAS. B. Riley Wealth Advisors Inc. grew its position in shares of Cintas by 12.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after purchasing an additional 58 shares in the last quarter. RFG Advisory LLC bought a new stake in shares of Cintas during the 1st quarter worth approximately $228,000. Traynor Capital Management Inc. bought a new stake in shares of Cintas during the 1st quarter worth approximately $204,000. Harbor Investment Advisory LLC lifted its holdings in shares of Cintas by 5.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 349 shares of the business services provider’s stock worth $240,000 after acquiring an additional 18 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in shares of Cintas by 8.2% during the 1st quarter. Annex Advisory Services LLC now owns 27,256 shares of the business services provider’s stock worth $18,725,000 after acquiring an additional 2,068 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 1.1 %

CTAS stock traded down $2.38 during midday trading on Monday, hitting $211.64. The stock had a trading volume of 269,982 shares, compared to its average volume of 1,469,904. The firm has a market cap of $21.47 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37. The business has a fifty day moving average price of $214.61 and a two-hundred day moving average price of $189.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business earned $3.70 earnings per share. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is currently 10.77%.

Cintas announced that its board has approved a stock repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Robert W. Baird upped their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Two research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.10% of the company’s stock.

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.