Cintas Co. (NASDAQ:CTAS) Position Boosted by Western Financial Corp CA

Western Financial Corp CA boosted its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 628.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,797 shares of the business services provider's stock after buying an additional 10,177 shares during the period. Cintas makes up 1.4% of Western Financial Corp CA's holdings, making the stock its 10th biggest holding. Western Financial Corp CA's holdings in Cintas were worth $2,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CTAS. Alecta Tjanstepension Omsesidigt lifted its holdings in Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider's stock valued at $335,552,000 after buying an additional 1,222,500 shares during the period. SG Americas Securities LLC increased its position in shares of Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider's stock worth $103,194,000 after acquiring an additional 486,500 shares in the last quarter. Raymond James & Associates increased its position in shares of Cintas by 305.4% during the third quarter. Raymond James & Associates now owns 484,068 shares of the business services provider's stock worth $99,660,000 after acquiring an additional 364,659 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider's stock worth $256,326,000 after acquiring an additional 201,955 shares in the last quarter. Finally, Vest Financial LLC increased its position in shares of Cintas by 292.6% during the third quarter. Vest Financial LLC now owns 258,477 shares of the business services provider's stock worth $53,215,000 after acquiring an additional 192,648 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They issued a "neutral" rating and a $167.50 price objective for the company. Royal Bank of Canada upped their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. Stifel Nicolaus upped their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research report on Friday, July 19th. The Goldman Sachs Group upped their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Baird R W downgraded shares of Cintas from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and an average target price of $199.63.

Insiders Place Their Bets

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 value of $842,292.00. Following the sale, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 15.10% of the company's stock.

Cintas Stock Performance

Shares of CTAS stock traded down $2.47 during trading on Monday, reaching $211.55. 823,766 shares of the company's stock traded hands, compared to its average volume of 1,472,496. The company has a market capitalization of $21.46 billion, a P/E ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average is $214.61 and its 200 day moving average is $189.12. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The company 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%. Cintas's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.70 EPS. Equities research analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date was Thursday, August 15th. Cintas's dividend payout ratio is presently 10.77%.

Cintas declared that its Board of Directors has approved a share buyback program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

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.