Alpine Global Management LLC Purchases Shares of 1,554 Cintas Co. (NASDAQ:CTAS)

Alpine Global Management LLC purchased a new position in Cintas Co. (NASDAQ:CTAS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,554 shares of the business services provider's stock, valued at approximately $284,000.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Cintas during the 4th quarter worth about $877,216,000. JPMorgan Chase & Co. raised its position in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after buying an additional 1,286,668 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Cintas during the 4th quarter worth $196,057,000. Barclays PLC raised its position 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 buying an additional 841,952 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Cintas during the 4th quarter worth approximately $96,282,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed 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 stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, 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. 15.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Morgan Stanley upped their price objective on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Bank of America began coverage on Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Argus raised shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Finally, Robert W. Baird raised their price target 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $213.88.

Cintas Trading Up 0.0%

NASDAQ:CTAS traded up $0.10 on Wednesday, reaching $225.98. 265,314 shares of the stock traded hands, compared to its average volume of 1,700,192. The company's 50 day moving average is $208.60 and its 200-day moving average is $205.19. 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 1-year low of $164.93 and a 1-year high of $228.12. The firm has a market capitalization of $91.25 billion, a price-to-earnings ratio of 54.48, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $3.84 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas's dividend payout ratio (DPR) is currently 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.