Axxcess Wealth Management LLC Boosts Stock Position in Cintas Corporation $CTAS

Key Points

• Axxcess Wealth Management increased its Cintas stake by 39.7% in the fourth quarter, bringing its holdings to 23,970 shares worth about $4.51 million.
• Institutional ownership remains high, with hedge funds and other institutions holding 63.46% of Cintas shares; several firms also sharply boosted positions during the period.
• Cintas reported quarterly EPS of $1.24 on revenue of $2.84 billion, while analysts currently have a consensus Hold rating and a price target of about $215.17.

Axxcess Wealth Management LLC lifted its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 39.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,970 shares of the business services provider's stock after buying an additional 6,814 shares during the quarter. Axxcess Wealth Management LLC's holdings in Cintas were worth $4,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Two Sigma Investments LP grew its stake in Cintas by 5,641.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider's stock worth $208,682,000 after purchasing an additional 998,963 shares in the last quarter. SG Americas Securities LLC grew its stake in Cintas by 2,653.0% during the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider's stock worth $188,640,000 after purchasing an additional 966,597 shares in the last quarter. Voloridge Investment Management LLC grew its stake in Cintas by 275.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider's stock worth $230,556,000 after purchasing an additional 823,885 shares in the last quarter. Freestone Grove Partners LP grew its stake in Cintas by 5,341.8% during the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider's stock worth $153,352,000 after purchasing an additional 733,380 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Cintas by 2,286.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider's stock worth $138,536,000 after purchasing an additional 705,751 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CTAS shares. Stifel Nicolaus lowered their target price on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Weiss Ratings cut Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 1st. Citigroup lowered their target price on Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research note on Tuesday, March 31st. UBS Group reissued a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Bank of America started coverage on Cintas in a research note on Tuesday, February 17th. They set a "neutral" rating and a $215.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cintas has a consensus rating of "Hold" and a consensus price target of $215.17.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares of the company's stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 14.90% of the company's stock.

Cintas Trading Up 0.3%

NASDAQ:CTAS opened at $172.93 on Friday. The stock has a 50-day simple moving average of $174.93 and a 200-day simple moving average of $185.28. The stock has a market cap of $69.19 billion, a P/E ratio of 48.85, a P/E/G ratio of 3.04 and a beta of 0.96. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. As a group, analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas's dividend payout ratio is currently 50.85%.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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