Texas Bank & Trust Co bought a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,800 shares of the business services provider's stock, valued at approximately $694,000.
Several other hedge funds and other institutional investors have also bought and sold shares of CTAS. Barclays PLC increased its stake in shares of Cintas by 340.1% in the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock valued at $224,312,000 after acquiring an additional 841,952 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cintas by 137.5% in the 3rd 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. Brookstone Capital Management increased its stake in shares of Cintas by 18.2% in the 4th quarter. Brookstone Capital Management now owns 1,278 shares of the business services provider's stock valued at $233,000 after acquiring an additional 197 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Cintas by 12.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,445 shares of the business services provider's stock valued at $1,360,000 after acquiring an additional 838 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Cintas by 199.7% in the 4th quarter. Merit Financial Group LLC now owns 9,718 shares of the business services provider's stock valued at $1,775,000 after acquiring an additional 6,475 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on CTAS. Royal Bank of Canada reiterated a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. UBS Group boosted their price target 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 lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $213.88.
Get Our Latest Report on CTAS
Insiders Place Their Bets
In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm'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 sale, the director now directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.
Cintas Stock Performance
Shares of Cintas stock traded down $0.16 on Tuesday, reaching $222.87. 1,400,297 shares of the company traded hands, compared to its average volume of 1,707,799. Cintas Co. has a 52 week low of $164.93 and a 52 week high of $228.12. The company has a 50 day moving average of $205.78 and a 200 day moving average of $204.95. The firm has a market capitalization of $89.99 billion, a PE ratio of 53.74, a PEG ratio of 3.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.
Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share 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 net margin of 17.23% and a return on equity of 40.62%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $3.84 earnings per share. Equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.
Cintas Announces Dividend
The firm 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 dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. Cintas's dividend payout ratio is presently 36.11%.
Cintas Profile
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Free Report)
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.
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