Cintas Co. (NASDAQ:CTAS) Shares Purchased by TAP Consulting LLC

TAP Consulting LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 290.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,882 shares of the business services provider's stock after purchasing an additional 13,300 shares during the period. TAP Consulting LLC's holdings in Cintas were worth $3,682,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTAS. Creative Planning grew its stake in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider's stock valued at $13,551,000 after acquiring an additional 4,957 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Cintas by 2,063.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider's stock worth $16,666,000 after purchasing an additional 22,700 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Cintas by 2.2% in the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider's stock worth $27,378,000 after buying an additional 838 shares in the last quarter. QRG Capital Management Inc. increased its stake in Cintas by 111.5% in the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider's stock worth $5,151,000 after acquiring an additional 3,878 shares during the last quarter. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of Cintas by 105.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider's stock worth $3,515,000 after acquiring an additional 2,580 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent research reports. Baird R W downgraded shares of Cintas from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 19th. Robert W. Baird upped their target price on shares of Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their price target on Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research report on Thursday, September 26th. StockNews.com raised Cintas from a "hold" rating to a "buy" rating in a research note on Friday, June 14th. Finally, The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $199.63.

Cintas Stock Up 0.9 %

NASDAQ CTAS traded up $1.92 on Friday, reaching $208.05. 1,347,610 shares of the stock traded hands, compared to its average volume of 1,483,670. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $211.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a fifty day moving average price of $211.63 and a 200-day moving average price of $186.98. The company has a market cap of $83.91 billion, a price-to-earnings ratio of 52.05, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm earned $3.70 earnings per share. The firm's revenue for the quarter 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 fiscal year.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Thursday, August 15th. Cintas's dividend payout ratio (DPR) is currently 39.39%.

Cintas declared that its Board of Directors has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Cintas

In other Cintas 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 value of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.00% of the stock is owned by corporate insiders.

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.