Alps Advisors Inc. Trims Position in Cintas Co. (NASDAQ:CTAS)

Alps Advisors Inc. cut its position in Cintas Co. (NASDAQ:CTAS) by 22.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,460 shares of the business services provider’s stock after selling 414 shares during the period. Alps Advisors Inc.’s holdings in Cintas were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bristlecone Advisors LLC increased its stake in shares of Cintas by 2.2% in the second quarter. Bristlecone Advisors LLC now owns 10,363 shares of the business services provider’s stock worth $2,459,000 after purchasing an additional 228 shares in the last quarter. Charter Trust Co. increased its stake in shares of Cintas by 3.2% in the second quarter. Charter Trust Co. now owns 2,421 shares of the business services provider’s stock worth $574,000 after purchasing an additional 76 shares in the last quarter. CSat Investment Advisory L.P. increased its stake in shares of Cintas by 229.8% in the second quarter. CSat Investment Advisory L.P. now owns 277 shares of the business services provider’s stock worth $66,000 after purchasing an additional 193 shares in the last quarter. Sonora Investment Management LLC purchased a new stake in shares of Cintas in the second quarter worth $42,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Cintas by 2.5% in the second quarter. Russell Investments Group Ltd. now owns 52,599 shares of the business services provider’s stock worth $12,472,000 after purchasing an additional 1,260 shares in the last quarter. 66.99% of the stock is owned by hedge funds and other institutional investors.

In other Cintas news, CAO Michael Lawrence Thompson sold 2,000 shares of Cintas stock in a transaction on Friday, October 11th. The shares were sold at an average price of $268.23, for a total value of $536,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 62,906 shares of the company’s stock, valued at approximately $16,873,276.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.90% of the company’s stock.

A number of analysts have recently issued reports on CTAS shares. Nomura increased their price objective on shares of Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Stifel Nicolaus raised their target price on shares of Cintas from $226.00 to $256.00 and gave the company a “hold” rating in a research note on Wednesday, September 25th. BidaskClub cut shares of Cintas from a “hold” rating to a “sell” rating in a research note on Saturday, November 9th. Morgan Stanley raised their target price on shares of Cintas from $217.00 to $223.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Finally, Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Cintas has a consensus rating of “Hold” and an average price target of $262.40.

CTAS opened at $255.24 on Thursday. The stock has a market capitalization of $27.00 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.93 and a beta of 0.99. The company has a fifty day moving average of $265.86 and a 200 day moving average of $248.58. Cintas Co. has a fifty-two week low of $155.98 and a fifty-two week high of $277.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.74 and a current ratio of 2.04.

Cintas (NASDAQ:CTAS) last posted its earnings results on Tuesday, September 24th. The business services provider reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.17. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Cintas had a net margin of 13.18% and a return on equity of 28.61%. Cintas’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $1.93 earnings per share. On average, equities research analysts forecast that Cintas Co. will post 8.57 earnings per share for the current year.

Cintas declared that its Board of Directors has approved a share repurchase program on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed an annual dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $2.55 dividend. The ex-dividend date is Thursday, November 7th. Cintas’s payout ratio is currently 33.55%.

Cintas Company Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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