Advisor Resource Council Purchases Shares of 1,533 Cintas Corporation (NASDAQ:CTAS)

Advisor Resource Council purchased a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,533 shares of the business services provider's stock, valued at approximately $308,000.

Several other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after purchasing an additional 219,809 shares during the period. Invesco Ltd. lifted its stake in Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after purchasing an additional 296,059 shares during the last quarter. Norges Bank bought a new position in shares of Cintas during the fourth quarter valued at approximately $877,216,000. Northern Trust Corp grew its stake in shares of Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after buying an additional 472,069 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after buying an additional 115,268 shares during the period. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CTAS shares. Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Morgan Stanley raised their target price on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Wells Fargo & Company increased 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. Citigroup started coverage on Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price objective (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $215.81.

Insider Transactions 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 stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction 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 owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% 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.

Cintas Price Performance

Shares of NASDAQ:CTAS traded up $2.30 during trading on Tuesday, reaching $223.20. The stock had a trading volume of 1,461,079 shares, compared to its average volume of 1,701,621. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. Cintas Corporation has a 1-year low of $172.20 and a 1-year high of $229.24. The stock has a market cap of $90.13 billion, a PE ratio of 51.70, a PEG ratio of 3.45 and a beta of 1.07. The business has a fifty day moving average price of $217.76 and a 200-day moving average price of $205.42.

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 17.53% and a return on equity of 41.30%. 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. On average, equities analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas's dividend payout ratio (DPR) 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.