Mackenzie Financial Corp Has $6.82 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Mackenzie Financial Corp increased its position in Cintas Co. (NASDAQ:CTAS) by 3.8% in the second quarter, Holdings Channel.com reports. The firm owned 9,744 shares of the business services provider’s stock after acquiring an additional 354 shares during the period. Mackenzie Financial Corp’s holdings in Cintas were worth $6,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. Nisa Investment Advisors LLC raised its stake in shares of Cintas by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after buying an additional 838 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Cintas by 111.5% during the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after acquiring an additional 3,878 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of Cintas by 105.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock valued at $3,515,000 after purchasing an additional 2,580 shares during the period. Journey Advisory Group LLC boosted its position in shares of Cintas by 17.1% in the 2nd quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock worth $4,511,000 after purchasing an additional 940 shares during the last quarter. Finally, Bensler LLC grew its stake in shares of Cintas by 4.7% during the second quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock worth $10,048,000 after purchasing an additional 646 shares during the period. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada increased their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Performance

Shares of CTAS stock opened at $205.88 on Tuesday. Cintas Co. has a 12 month low of $119.69 and a 12 month high of $211.57. The company’s fifty day simple moving average is $209.14 and its 200-day simple moving average is $184.71. The firm has a market cap of $20.89 billion, a PE ratio of 14.22, a P/E/G ratio of 4.09 and a beta of 1.32. 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 (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.70 EPS. Equities research analysts expect that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is 10.77%.

Cintas declared that its board has approved a share repurchase 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 15.10% of the company’s stock.

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.