Cintas Co. (NASDAQ:CTAS) Position Increased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 23.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,734 shares of the business services provider’s stock after acquiring an additional 710 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Cintas were worth $2,615,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Checchi Capital Advisers LLC lifted its holdings in shares of Cintas by 0.9% in the second 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 in the last quarter. Field & Main Bank raised its position in Cintas by 25.0% during the second 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 during the period. Drive Wealth Management LLC lifted its stake in Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after acquiring an additional 16 shares in the last quarter. TIAA Trust National Association boosted its position in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the period. Finally, Capital CS Group LLC grew its stake in Cintas by 1.9% during the 2nd quarter. Capital CS Group LLC now owns 920 shares of the business services provider’s stock valued at $644,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTAS. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial lifted their target price on shares of Cintas from $193.75 to $212.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Barclays upped their price target on shares of Cintas from $175.00 to $212.50 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Stifel Nicolaus lifted their price objective on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and an average price target of $185.59.

Cintas Stock Performance

CTAS opened at $206.02 on Friday. 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 stock’s 50 day moving average price is $203.68 and its two-hundred day moving average price is $180.34. The firm has a market capitalization of $20.90 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 4.16 and a beta of 1.32. Cintas Co. has a 12-month low of $118.68 and a 12-month high of $207.49.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the company posted $0.83 earnings per share. Cintas’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that Cintas Co. will post 16.64 earnings per share for the current year.

Cintas announced that its Board of Directors has initiated a stock buyback 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

Cintas 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.