Franklin Street Advisors Inc. NC Has $18.35 Million Position in Cintas Co. (NASDAQ:CTAS)

Franklin Street Advisors Inc. NC grew its stake in Cintas Co. (NASDAQ:CTAS) by 309.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,107 shares of the business services provider’s stock after buying an additional 67,350 shares during the period. Franklin Street Advisors Inc. NC owned 0.09% of Cintas worth $18,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after purchasing an additional 486,500 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in 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 valued at $256,326,000 after acquiring an additional 201,955 shares in the last quarter. Global Assets Advisory LLC bought a new position in Cintas in the 1st quarter worth about $84,646,000. Vanguard Group Inc. increased its position in shares of Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after purchasing an additional 112,361 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its position in shares of Cintas by 124.9% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CTAS shares. Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. 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 research note on Friday, July 19th. UBS Group upped their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 0.3 %

Shares of Cintas stock traded up $0.63 on Friday, reaching $206.76. The company had a trading volume of 67,537 shares, compared to its average volume of 1,477,128. The firm has a market cap of $83.39 billion, a PE ratio of 52.05, a PEG ratio of 4.12 and a beta of 1.32. 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 52-week low of $123.65 and a 52-week high of $211.57. The firm’s 50 day moving average price is $211.63 and its two-hundred day moving average price is $186.98.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $3.70 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side 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. Shareholders of record on Thursday, August 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio is presently 39.39%.

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

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the 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 transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.00% of the stock is currently owned by insiders.

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.