Lake Hills Wealth Management LLC Acquires 3,067 Shares of Cintas Co. (NASDAQ:CTAS)

Lake Hills Wealth Management LLC increased its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 343.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,960 shares of the business services provider's stock after acquiring an additional 3,067 shares during the period. Lake Hills Wealth Management LLC's holdings in Cintas were worth $815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LGT Financial Advisors LLC lifted its stake 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 valued at $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas during the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas during the 1st quarter worth approximately $29,000. Rise Advisors LLC acquired a new position in Cintas during the first quarter worth $30,000. Finally, Meeder Asset Management Inc. boosted its stake in Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider's stock worth $34,000 after purchasing an additional 34 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the 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 transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTAS shares. Morgan Stanley lifted their price target 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. Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a report on Thursday, September 26th. Jefferies Financial Group decreased their price objective on Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research note on Thursday, September 26th. The Goldman Sachs Group increased their target price on Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the stock a "sector perform" 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, the company has an average rating of "Hold" and a consensus target price of $199.63.

Cintas Price Performance

Cintas stock traded up $1.92 during mid-day trading on Friday, hitting $208.05. 1,347,619 shares of the company were exchanged, compared to its average volume of 1,483,670. The company has a market capitalization of $21.11 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 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 $211.57. The business has a fifty day moving average of $212.01 and a 200 day moving average of $187.53.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $3.70 earnings per share. As a group, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its board has initiated a share repurchase plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently disclosed 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 0.75%. Cintas's dividend payout ratio (DPR) is 10.77%.

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.