American National Bank & Trust Purchases 4,294 Shares of Cintas Co. (NASDAQ:CTAS)

American National Bank & Trust raised its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 283.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,808 shares of the business services provider's stock after acquiring an additional 4,294 shares during the period. American National Bank & Trust's holdings in Cintas were worth $1,196,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. LGT Financial Advisors LLC grew its position in Cintas by 311.1% in the second 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. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the 2nd quarter worth about $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas during the 1st quarter valued at about $29,000. Rise Advisors LLC purchased a new position in shares of Cintas during the 1st quarter valued at about $30,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider's stock valued at $34,000 after buying an additional 34 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on 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 transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CTAS has been the topic of several research reports. Royal Bank of Canada lifted their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 26th. Redburn Atlantic initiated 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. Truist Financial upped their price target on shares of Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Jefferies Financial Group decreased their price objective on Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a report on Thursday, September 26th. Finally, Robert W. Baird increased their target price on Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $199.63.

Cintas Trading Down 0.4 %

Shares of CTAS traded down $0.75 during trading hours on Thursday, reaching $204.55. 1,389,855 shares of the company traded hands, compared to its average volume of 1,491,534. Cintas Co. has a 12 month low of $119.86 and a 12 month high of $211.57. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company's fifty day moving average price is $209.77 and its two-hundred day moving average price is $185.19. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.70 EPS. Equities research analysts predict that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has initiated 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cintas's dividend payout ratio is presently 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.