Hengehold Capital Management LLC Purchases 6,531 Shares of Cintas Co. (NASDAQ:CTAS)

Hengehold Capital Management LLC lifted its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 350.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,397 shares of the business services provider's stock after acquiring an additional 6,531 shares during the quarter. Hengehold Capital Management LLC's holdings in Cintas were worth $1,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in Cintas by 3,302.1% in the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider's stock valued at $103,194,000 after acquiring an additional 486,500 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider's stock worth $256,326,000 after purchasing an additional 201,955 shares during the period. Swedbank AB boosted its holdings in shares of Cintas by 308.3% in the third quarter. Swedbank AB now owns 221,336 shares of the business services provider's stock worth $45,569,000 after buying an additional 167,123 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Cintas during the first quarter valued at approximately $84,646,000. Finally, Congress Asset Management Co. MA increased its holdings in Cintas by 124.9% during the first quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider's stock valued at $134,318,000 after buying an additional 108,582 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

CTAS stock traded up $0.89 during trading on Thursday, hitting $213.82. 1,156,847 shares of the company's stock traded hands, compared to its average volume of 1,476,835. The business has a fifty day simple moving average of $213.58 and a 200 day simple moving average of $188.37. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $215.37. 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 stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 4.12 and a beta of 1.32.

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

Cintas Cuts Dividend

The company also recently declared 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. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.73%. Cintas's dividend payout ratio is presently 10.77%.

Cintas announced that its board has authorized 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTAS. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a "neutral" rating and a $167.50 price objective on the stock. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a research note on Thursday, September 26th. 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 report on Thursday, September 26th. The Goldman Sachs Group increased their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Finally, Barclays lifted their target price on shares of Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $199.63.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm'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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 15.10% of the stock is currently owned by 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.