Algert Global LLC Purchases Shares of 27,170 Cintas Co. (NASDAQ:CTAS)

Algert Global LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 27,170 shares of the business services provider's stock, valued at approximately $4,964,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sound Income Strategies LLC acquired a new stake in Cintas during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas during the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new stake in Cintas in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC increased its holdings in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in Cintas during the 4th quarter worth approximately $34,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective for the company. The Goldman Sachs Group lifted their price target on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Argus upgraded Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $213.88.

Cintas Trading Up 0.1 %

Shares of CTAS stock opened at $211.82 on Tuesday. Cintas Co. has a fifty-two week low of $164.93 and a fifty-two week high of $228.12. The firm has a market capitalization of $85.53 billion, a P/E ratio of 51.07, a PEG ratio of 3.98 and a beta of 1.20. The stock's fifty day moving average is $202.21 and its two-hundred day moving average is $204.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the prior year, the company earned $3.84 EPS. Cintas's revenue was up 8.4% compared to the same quarter last year. Research analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is currently 36.11%.

Insider Buying and Selling at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by company 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.

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