Cabot Wealth Management Inc. Purchases 45,806 Shares of Cintas Co. (NASDAQ:CTAS)

Cabot Wealth Management Inc. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 187.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,280 shares of the business services provider’s stock after acquiring an additional 45,806 shares during the period. Cintas comprises approximately 1.8% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 20th largest holding. Cabot Wealth Management Inc.’s holdings in Cintas were worth $14,469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. Syon Capital LLC raised its holdings in Cintas by 16.1% during the fourth quarter. Syon Capital LLC now owns 685 shares of the business services provider’s stock worth $413,000 after acquiring an additional 95 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Cintas by 12.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock valued at $313,000 after buying an additional 58 shares during the period. Quadrature Capital Ltd bought a new stake in Cintas in the fourth quarter valued at approximately $3,509,000. HighPoint Advisor Group LLC bought a new stake in Cintas in the fourth quarter valued at approximately $343,000. Finally, Nomura Holdings Inc. raised its stake in Cintas by 26.4% in the fourth quarter. Nomura Holdings Inc. now owns 1,734 shares of the business services provider’s stock valued at $1,045,000 after buying an additional 362 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CTAS. Morgan Stanley upped their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Robert W. Baird upped their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada upped their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ CTAS traded down $0.80 during mid-day trading on Tuesday, reaching $210.70. The company had a trading volume of 1,317,080 shares, compared to its average volume of 1,480,124. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a one year low of $123.65 and a one year high of $213.05. The firm has a market cap of $21.38 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32. The business’s 50-day simple moving average is $212.54 and its 200 day simple moving average is $187.92.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for 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%. Cintas’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $3.70 earnings per share. On average, research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 (DPR) is presently 10.77%.

Cintas announced that its board has authorized a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase 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 stock is undervalued.

Insider Activity at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.