Bokf Na Has $7.29 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Bokf Na reduced its stake in Cintas Co. (NASDAQ:CTAS) by 41.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,411 shares of the business services provider’s stock after selling 7,414 shares during the period. Bokf Na’s holdings in Cintas were worth $7,290,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Cintas in the 4th quarter valued at $872,895,000. Clearbridge Investments LLC raised its stake in Cintas by 475.7% in the fourth quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock valued at $180,423,000 after purchasing an additional 247,378 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares during the period. Public Employees Retirement Association of Colorado grew its stake in Cintas by 711.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock worth $91,915,000 after buying an additional 133,713 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in Cintas in the 1st quarter valued at about $84,646,000. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a report on Friday, July 19th. Morgan Stanley lifted their target price on shares of Cintas from $143.75 to $156.25 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Royal Bank of Canada downgraded Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price objective for the company. in a research report on Monday, July 15th. Finally, Barclays lifted their target price on Cintas from $175.00 to $212.50 and gave the stock an “overweight” rating in a report on Friday, July 19th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $185.59.

Insider Buying and Selling at Cintas

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

Cintas Trading Down 74.9 %

NASDAQ CTAS opened at $206.02 on Friday. The business’s fifty day moving average is $203.68 and its 200-day moving average is $180.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 4.16 and a beta of 1.32. Cintas Co. has a one year low of $118.68 and a one year high of $207.49.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 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 analyst estimates of $2.47 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that Cintas Co. will post 16.64 EPS for the current year.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.39 dividend. 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 is currently 43.09%.

Cintas announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cintas Company 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.