Privium Fund Management UK Ltd Acquires New Stake in Cintas Co. (NASDAQ:CTAS)

Privium Fund Management UK Ltd acquired a new stake in Cintas Co. (NASDAQ:CTAS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 964 shares of the business services provider’s stock, valued at approximately $679,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Comgest Global Investors S.A.S. lifted its holdings in shares of Cintas by 25.6% during the second quarter. Comgest Global Investors S.A.S. now owns 38,176 shares of the business services provider’s stock valued at $26,733,000 after purchasing an additional 7,789 shares during the last quarter. TIAA Trust National Association lifted its stake in Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after purchasing an additional 16 shares in the last quarter. Drive Wealth Management LLC raised its position in shares of Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after buying an additional 16 shares in the last quarter. Summit Financial LLC purchased a new stake in shares of Cintas during the 2nd quarter valued at about $276,000. Finally, Aptus Capital Advisors LLC raised its position in shares of Cintas by 26.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 16,922 shares of the business services provider’s stock valued at $11,850,000 after buying an additional 3,583 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.3 %

Shares of NASDAQ CTAS traded down $2.56 during midday trading on Tuesday, reaching $802.56. 92,354 shares of the company’s stock traded hands, compared to its average volume of 369,304. 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 simple moving average is $749.31 and its 200-day simple moving average is $695.00. Cintas Co. has a one year low of $474.74 and a one year high of $812.01. The company has a market cap of $81.43 billion, a price-to-earnings ratio of 55.60, a P/E/G ratio of 4.28 and a beta of 1.31.

Shares of Cintas are set to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be issued to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the company posted $3.33 earnings per share. Cintas’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts predict that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $1.56 per share. This is a boost from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date is Thursday, August 15th. This represents a $6.24 dividend on an annualized basis and a yield of 0.78%. Cintas’s dividend payout ratio is presently 43.09%.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were 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 $24,083,425.44. The transaction was disclosed in a filing with the SEC, which is available at this link. 15.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on CTAS shares. UBS Group upped their price target on shares of Cintas from $790.00 to $874.00 and gave the company a “buy” rating in a report on Friday, July 19th. Royal Bank of Canada downgraded 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. Robert W. Baird restated a “neutral” rating and issued a $775.00 target price (up from $750.00) on shares of Cintas in a research note on Friday, July 19th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $670.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $742.36.

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.