Global X Japan Co. Ltd. Sells 54 Shares of Cintas Co. (NASDAQ:CTAS)

Global X Japan Co. Ltd. decreased its stake in Cintas Co. (NASDAQ:CTAS) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 637 shares of the business services provider’s stock after selling 54 shares during the period. Global X Japan Co. Ltd.’s holdings in Cintas were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. acquired a new stake in Cintas during the second quarter worth about $27,000. Pathway Financial Advisers LLC bought a new position in Cintas during the first quarter valued at about $29,000. Rise Advisors LLC acquired a new position in Cintas in the 1st quarter valued at approximately $30,000. Finally, Webster Bank N. A. acquired a new position in Cintas in the 1st quarter valued at approximately $38,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 2.9 %

CTAS stock opened at $804.72 on Tuesday. The business has a fifty day moving average price of $758.53 and a 200 day moving average price of $701.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. Cintas Co. has a fifty-two week low of $474.74 and a fifty-two week high of $812.01. The stock has a market capitalization of $81.09 billion, a price-to-earnings ratio of 55.57, a P/E/G ratio of 4.16 and a beta of 1.32.

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 minted shares will be payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data 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. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $3.33 EPS. Analysts expect that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were 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 of this dividend was Thursday, August 15th. This represents a $6.24 annualized dividend and a dividend yield of 0.78%. Cintas’s payout ratio is currently 43.09%.

Cintas declared that its board has initiated a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CTAS shares. Royal Bank of Canada cut Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 price objective on the stock. in a research report on Monday, July 15th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Stifel Nicolaus raised their price objective on shares of Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a report on Friday, July 19th. UBS Group upped their target price on shares of Cintas from $790.00 to $874.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $670.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $742.36.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of Cintas stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.10% of the stock is currently owned by insiders.

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.