Alpine Global Management LLC Takes Position in Cintas Co. (NASDAQ:CTAS)

Alpine Global Management LLC bought a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,554 shares of the business services provider's stock, valued at approximately $284,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Cintas during the 4th quarter worth about $877,216,000. Franklin Resources Inc. lifted its holdings in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Winslow Capital Management LLC acquired a new position in shares of Cintas during the fourth quarter worth about $196,057,000. Finally, Barclays PLC increased its stake in shares of Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock worth $224,312,000 after acquiring an additional 841,952 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Price Performance

Cintas stock traded down $1.35 during midday trading on Friday, reaching $208.40. 1,172,829 shares of the company were exchanged, compared to its average volume of 1,697,375. The company has a market capitalization of $84.15 billion, a price-to-earnings ratio of 50.25, a P/E/G ratio of 3.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm's 50-day simple moving average is $201.61 and its 200-day simple moving average is $204.33. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12.

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

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 target price for the company. Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Finally, Wells Fargo & Company raised their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $213.62.

Insiders Place Their Bets

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