Creative Planning Acquires 4,957 Shares of Cintas Co. (NASDAQ:CTAS)

Creative Planning boosted its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 34.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,351 shares of the business services provider's stock after purchasing an additional 4,957 shares during the quarter. Creative Planning's holdings in Cintas were worth $13,551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its stake in shares of Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider's stock valued at $1,156,000 after purchasing an additional 14 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider's stock valued at $2,034,000 after buying an additional 14 shares during the last quarter. Field & Main Bank boosted its stake in Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider's stock worth $53,000 after buying an additional 15 shares during the period. Drive Wealth Management LLC increased its position in shares of Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider's stock valued at $314,000 after acquiring an additional 16 shares during the last quarter. Finally, TIAA Trust National Association raised its stake in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider's stock valued at $954,000 after acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Down 1.0 %

CTAS traded down $2.06 on Tuesday, reaching $203.82. The company's stock had a trading volume of 974,348 shares, compared to its average volume of 1,491,188. 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 Co. has a 1 year low of $119.69 and a 1 year high of $211.57. The business's 50 day moving average is $209.14 and its 200 day moving average is $184.71. The stock has a market cap of $20.68 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly 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 16.38% and a return on equity of 37.82%. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the company posted $3.70 earnings per share. The firm's quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts forecast that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas declared that its Board of Directors has authorized a share repurchase 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 buy up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas's dividend payout ratio (DPR) is presently 10.77%.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the company's stock in a transaction dated 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 owns 125,808 shares of the company's stock, valued at $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CTAS shares. Truist Financial lifted their price target on Cintas from $212.50 to $225.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. StockNews.com upgraded shares of Cintas from a "hold" rating to a "buy" rating in a research note on Friday, June 14th. Stifel Nicolaus raised their price target on Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research note on Friday, July 19th. Jefferies Financial Group cut their target price on shares of Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a report on Thursday, September 26th. Finally, Barclays lifted their target price on Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday. 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's stock. According to data from MarketBeat.com, the company currently has an average 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.