Northern Trust Corp Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Northern Trust Corp grew its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,067,037 shares of the business services provider's stock after buying an additional 472,069 shares during the quarter. Northern Trust Corp owned 1.01% of Cintas worth $743,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC increased its holdings 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 valued at $224,312,000 after purchasing an additional 841,952 shares during the period. Virtu Financial LLC raised its holdings in Cintas by 168.1% in the 3rd quarter. Virtu Financial LLC now owns 14,468 shares of the business services provider's stock valued at $2,979,000 after acquiring an additional 9,072 shares in the last quarter. Morse Asset Management Inc raised its position in Cintas by 299.8% in the 3rd quarter. Morse Asset Management Inc now owns 21,229 shares of the business services provider's stock valued at $4,371,000 after purchasing an additional 15,919 shares during the last quarter. Wealthquest Corp lifted its holdings in Cintas by 285.9% during the 3rd quarter. Wealthquest Corp now owns 14,848 shares of the business services provider's stock worth $3,027,000 after buying an additional 11,000 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of Cintas by 299.7% during the 3rd quarter. Anchor Investment Management LLC now owns 2,294 shares of the business services provider's stock worth $472,000 after buying an additional 1,720 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Trading Up 1.0 %

CTAS stock traded up $2.00 during midday trading on Friday, hitting $211.55. 1,373,132 shares of the company's stock were exchanged, compared to its average volume of 1,700,252. 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 stock's fifty day moving average price is $201.95 and its 200-day moving average price is $204.39. Cintas Co. has a one year low of $164.93 and a one year high of $228.12. The company has a market cap of $85.42 billion, a PE ratio of 51.01, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20.

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

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend yield of 0.74%. Cintas's dividend payout ratio (DPR) is currently 36.11%.

Insider Transactions at Cintas

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group raised their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a report on Thursday. Robert W. Baird boosted their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cintas has a consensus rating of "Hold" and an average price target of $213.88.

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.