WBI Investments LLC Invests $500,000 in Cintas Co. (NASDAQ:CTAS)

WBI Investments LLC acquired a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 714 shares of the business services provider’s stock, valued at approximately $500,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC raised its stake in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after purchasing an additional 14 shares during the period. Field & Main Bank grew its holdings in Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after buying an additional 15 shares in the last quarter. Capital CS Group LLC increased its position in shares of Cintas by 1.9% during the second quarter. Capital CS Group LLC now owns 920 shares of the business services provider’s stock valued at $644,000 after buying an additional 17 shares during the period. Andina Capital Management LLC lifted its holdings in shares of Cintas by 3.3% in the second quarter. Andina Capital Management LLC now owns 538 shares of the business services provider’s stock worth $377,000 after buying an additional 17 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its position in shares of Cintas by 5.4% in the first quarter. Harbor Investment Advisory LLC now owns 349 shares of the business services provider’s stock valued at $240,000 after acquiring an additional 18 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CTAS shares. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. UBS Group increased their price objective on Cintas from $790.00 to $874.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $670.00 price target on the stock. Finally, Wells Fargo & Company raised Cintas to a “strong sell” rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $742.36.

Cintas Trading Up 0.7 %

CTAS stock opened at $805.12 on Friday. The company has a market capitalization of $81.69 billion, a PE ratio of 55.60, a price-to-earnings-growth ratio of 4.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. Cintas Co. has a one year low of $474.74 and a one year high of $807.98. The company’s 50 day moving average price is $745.49 and its two-hundred day moving average price is $691.20.

Shares of Cintas are going to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts predict that Cintas Co. will post 16.62 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 0.78%. This is a positive change from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

Cintas announced that its board has approved a share buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 1,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the sale, the director now owns 31,452 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 15.10% of the company’s stock.

About Cintas

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.