IFG Advisors LLC Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

IFG Advisors LLC lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 308.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,271 shares of the business services provider’s stock after purchasing an additional 101,430 shares during the period. Cintas accounts for approximately 5.9% of IFG Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. IFG Advisors LLC owned approximately 0.13% of Cintas worth $27,644,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Riverview Trust Co increased its stake in Cintas by 309.6% during the 3rd quarter. Riverview Trust Co now owns 340 shares of the business services provider’s stock worth $70,000 after acquiring an additional 257 shares during the period. Accurate Wealth Management LLC bought a new position in Cintas during the 3rd quarter worth $3,077,000. KMG Fiduciary Partners LLC increased its stake in Cintas by 300.6% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,204 shares of the business services provider’s stock worth $1,071,000 after acquiring an additional 3,905 shares during the period. Net Worth Advisory Group bought a new position in Cintas during the 3rd quarter worth $377,000. Finally, Stratos Wealth Advisors LLC increased its stake in Cintas by 363.5% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,446 shares of the business services provider’s stock worth $298,000 after acquiring an additional 1,134 shares during the period. Institutional investors own 63.46% of the company’s stock.

Insider Activity

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 value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CTAS shares. Truist Financial raised their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Barclays lifted their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Robert W. Baird lifted their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 0.1 %

Shares of CTAS opened at $214.02 on Friday. The company has a market capitalization of $21.72 billion, a PE ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The stock’s 50-day moving average price is $214.61 and its two-hundred day moving average price is $188.85. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

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 analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.70 EPS. On average, analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its Board of Directors has approved a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to repurchase 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio is 10.77%.

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.