Cintas Co. (NASDAQ:CTAS) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 13.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 703,056 shares of the business services provider's stock after buying an additional 85,771 shares during the quarter. Assenagon Asset Management S.A. owned 0.17% of Cintas worth $144,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTAS. Norges Bank bought a new position in shares of Cintas during the fourth quarter valued at approximately $877,216,000. GAMMA Investing LLC lifted its position in Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock valued at $465,133,000 after acquiring an additional 2,251,629 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in Cintas in the fourth quarter valued at about $196,057,000. Raymond James Financial Inc. purchased a new stake in Cintas during the 4th quarter worth approximately $96,282,000. Finally, Northern Trust Corp lifted its holdings 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 worth $743,048,000 after purchasing an additional 472,069 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

Cintas stock traded up $0.54 during trading hours on Thursday, hitting $222.26. The stock had a trading volume of 506,242 shares, compared to its average volume of 1,696,516. The stock has a market capitalization of $89.75 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 3.98 and a beta of 1.08. 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 Co. has a 1-year low of $170.93 and a 1-year high of $229.24. The stock's fifty day moving average is $214.01 and its two-hundred day moving average is $205.71.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Robert W. Baird increased 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. UBS Group upped their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Citigroup assumed coverage on Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 target price on the stock. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $215.81.

Insiders Place Their Bets

In other Cintas 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 owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the 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 transaction, the chief operating officer now owns 256,528 shares of the company's stock, 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. 15.00% of the stock is owned by company insiders.

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.