Columbus Macro LLC Acquires 3,568 Shares of Cintas Co. (NASDAQ:CTAS)

Columbus Macro LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 264.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,915 shares of the business services provider's stock after purchasing an additional 3,568 shares during the period. Columbus Macro LLC's holdings in Cintas were worth $1,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock worth $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Vest Financial LLC boosted its stake in shares of Cintas by 292.6% during the 3rd quarter. Vest Financial LLC now owns 258,477 shares of the business services provider's stock valued at $53,215,000 after purchasing an additional 192,648 shares in the last quarter. Stegent Equity Advisors Inc. increased its position in shares of Cintas by 276.4% during the third quarter. Stegent Equity Advisors Inc. now owns 1,532 shares of the business services provider's stock valued at $315,000 after buying an additional 1,125 shares during the period. OLD National Bancorp IN raised its stake in Cintas by 294.7% in the third quarter. OLD National Bancorp IN now owns 26,768 shares of the business services provider's stock worth $5,511,000 after buying an additional 19,986 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in Cintas in the third quarter worth about $768,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley upped their target price on Cintas from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, September 26th. UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Wells Fargo & Company increased their price objective on Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a report on Thursday, September 26th. Stifel Nicolaus boosted their target price on shares of Cintas from $166.75 to $199.50 and gave the company a "hold" rating in a report on Friday, July 19th. Finally, Barclays upped their price target on Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. Two 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $199.63.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now owns 125,808 shares of the company's stock, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 15.10% of the company's stock.

Cintas Stock Performance

Cintas stock traded up $0.20 during midday trading on Friday, reaching $214.02. 1,248,001 shares of the company traded hands, compared to its average volume of 1,475,704. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The business has a 50 day moving average of $214.61 and a two-hundred day moving average of $189.12. The firm has a market capitalization of $21.72 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32.

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

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 currently 10.77%.

Cintas announced that its board has initiated a stock buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

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.