First Foundation Advisors Purchases 298 Shares of Cintas Co. (NASDAQ:CTAS)

First Foundation Advisors raised its position in Cintas Co. (NASDAQ:CTAS) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,274 shares of the business services provider’s stock after purchasing an additional 298 shares during the quarter. First Foundation Advisors’ holdings in Cintas were worth $4,393,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC raised its holdings in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in Cintas in the second quarter worth $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas in the first quarter worth $29,000. Rise Advisors LLC bought a new stake in shares of Cintas during the first quarter worth $30,000. Finally, Webster Bank N. A. purchased a new stake in shares of Cintas during the first quarter valued at $38,000. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of Cintas stock opened at $781.90 on Monday. Cintas Co. has a 52 week low of $474.74 and a 52 week high of $812.01. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $78.79 billion, a P/E ratio of 54.00, a PEG ratio of 4.16 and a beta of 1.32. The company has a 50 day moving average price of $756.32 and a 200 day moving average price of $700.09.

Cintas’s stock is going to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be payable to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.19. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the business earned $3.33 earnings per share. Cintas’s quarterly revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that Cintas Co. will post 16.64 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $1.56 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio is 43.09%.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTAS shares. Morgan Stanley raised their target price on shares of Cintas from $575.00 to $625.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $670.00 price target on the stock. Finally, UBS Group upped their price objective on shares of Cintas from $790.00 to $874.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $742.36.

Insider Activity

In related news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 31,452 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.