Ameriprise Financial Inc. Has $407.16 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Ameriprise Financial Inc. boosted its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,228,609 shares of the business services provider's stock after purchasing an additional 468,950 shares during the quarter. Ameriprise Financial Inc. owned about 0.55% of Cintas worth $407,163,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider's stock valued at $1,199,000 after purchasing an additional 1,450 shares during the period. KMG Fiduciary Partners LLC increased its stake in Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider's stock valued at $2,109,000 after buying an additional 6,341 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after buying an additional 1,286,668 shares in the last quarter. Annex Advisory Services LLC lifted its stake in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider's stock worth $23,283,000 after acquiring an additional 1,988 shares during the period. Finally, LVM Capital Management Ltd. MI boosted its holdings in shares of Cintas by 292.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider's stock valued at $1,002,000 after acquiring an additional 4,086 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cintas

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CTAS shares. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Robert W. Baird upped their price objective on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. The Goldman Sachs Group upped their price target on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Morgan Stanley lifted their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $213.88.

Cintas Stock Down 0.1 %

NASDAQ:CTAS traded down $0.17 during trading hours on Friday, hitting $214.79. 965,220 shares of the stock traded hands, compared to its average volume of 1,701,465. The firm has a market cap of $86.73 billion, a price-to-earnings ratio of 51.79, a PEG ratio of 3.98 and a beta of 1.09. The firm has a 50 day moving average price of $202.92 and a 200 day moving average price of $204.41. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a fifty-two week low of $164.93 and a fifty-two week high of $228.12.

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

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.73%. Cintas's payout ratio is 36.11%.

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.