S Bank Fund Management Ltd Acquires Shares of 3,633 Cintas Corporation (NASDAQ:CTAS)

Key Points

• S Bank Fund Management Ltd purchased 3,633 shares of Cintas Corporation, valued at approximately $747,000, in the first quarter of the year.
• Cintas recently declared a quarterly dividend increase from $0.39 to $0.45, with a dividend yield of 0.8%.
• Insider transactions include CEO Todd M. Schneider selling 17,301 shares, while Director Martin Mucci increased their stake by purchasing 1,200 shares.

S Bank Fund Management Ltd purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,633 shares of the business services provider's stock, valued at approximately $747,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CTAS. National Pension Service boosted its stake in shares of Cintas by 10.3% during the 1st quarter. National Pension Service now owns 1,042,301 shares of the business services provider's stock worth $214,224,000 after acquiring an additional 97,671 shares during the last quarter. LGT Group Foundation purchased a new position in shares of Cintas during the 1st quarter valued at $204,000. Resona Asset Management Co. Ltd. lifted its stake in shares of Cintas by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 133,583 shares of the business services provider's stock valued at $27,392,000 after buying an additional 10,154 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Cintas during the 1st quarter valued at $41,000. Finally, Public Sector Pension Investment Board lifted its stake in Cintas by 9.5% in the 1st quarter. Public Sector Pension Investment Board now owns 44,095 shares of the business services provider's stock worth $9,063,000 after purchasing an additional 3,833 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling

In related news, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were purchased at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director directly owned 2,621 shares of the company's stock, valued at $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the sale, the chief executive officer owned 622,712 shares in the company, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Cintas Stock Performance

CTAS stock traded down $4.81 during trading on Friday, hitting $216.55. 1,398,396 shares of the company traded hands, compared to its average volume of 1,365,709. The stock's 50-day simple moving average is $221.08 and its 200 day simple moving average is $211.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The company has a market cap of $87.27 billion, a PE ratio of 49.10, a P/E/G ratio of 3.82 and a beta of 1.03. Cintas Corporation has a 1 year low of $180.78 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the business earned $3.99 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. On average, equities analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, August 15th. This is a boost from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Cintas's dividend payout ratio (DPR) is presently 35.37%.

Analysts Set New Price Targets

Several brokerages have commented on CTAS. The Goldman Sachs Group boosted their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. initiated coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price on the stock. UBS Group boosted their target price on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Morgan Stanley upped their price target on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Finally, Robert W. Baird upped their price target on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $224.54.

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.