Massmutual Trust Co. FSB ADV Sells 439 Shares of Cintas Co. (NASDAQ:CTAS)

Massmutual Trust Co. FSB ADV cut its stake in shares of Cintas Co. (NASDAQ:CTAS) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,876 shares of the business services provider’s stock after selling 439 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Cintas were worth $2,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new stake in Cintas in the first quarter worth approximately $29,000. Rise Advisors LLC purchased a new stake in Cintas in the first quarter worth approximately $30,000. Janiczek Wealth Management LLC boosted its stake in Cintas by 113.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after buying an additional 26 shares in the last quarter. Webster Bank N. A. purchased a new stake in shares of Cintas during the first quarter valued at approximately $38,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Cintas during the fourth quarter valued at approximately $40,000. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTAS. Robert W. Baird reissued a “neutral” rating and set a $775.00 price objective (up previously from $750.00) on shares of Cintas in a research note on Friday, July 19th. Royal Bank of Canada cut shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 price target on the stock. in a report on Monday, July 15th. Stifel Nicolaus lifted their price target on shares of Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a report on Friday, July 19th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $749.00.

Cintas Stock Performance

Shares of Cintas stock traded down $16.93 during trading hours on Monday, reaching $739.83. 571,913 shares of the stock traded hands, compared to its average volume of 376,764. The company has a 50 day moving average price of $713.86 and a 200 day moving average price of $670.61. The firm has a market capitalization of $74.55 billion, a price-to-earnings ratio of 50.95, a P/E/G ratio of 4.06 and a beta of 1.31. Cintas Co. has a one year low of $474.74 and a one year high of $773.95. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47.

Cintas’s stock is scheduled to split before the market opens on 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 data on Thursday, July 18th. The business services provider reported $3.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.33 EPS. On average, equities research analysts expect that Cintas Co. will post 16.62 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be paid a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 0.84%. This is an increase from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date is Thursday, August 15th. Cintas’s dividend payout ratio is presently 37.29%.

Cintas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction that occurred on 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 directly owns 31,452 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Jim Rozakis sold 1,318 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total transaction of $914,309.78. Following the sale, the chief operating officer now directly owns 59,770 shares of the company’s stock, valued at approximately $41,463,046.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the sale, the director now directly owns 31,452 shares in the company, valued at $24,083,425.44. The disclosure for this sale can be found here. Insiders sold 4,709 shares of company stock worth $3,346,441 in the last three months. 15.10% of the stock is owned by company insiders.

Cintas Profile

Cintas Corporation provides 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.