4,909 Shares in Cintas Corporation (NASDAQ:CTAS) Acquired by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise acquired a new position in Cintas Corporation, purchasing 4,909 shares valued at approximately $1,009,000 during the first quarter.
• Cintas announced a quarterly dividend increase from $0.39 to $0.45 per share, representing an annualized dividend of $1.80 with a yield of 0.8%.
• The stock recently opened at $222.55 and showed a quarterly revenue increase of 8.0% year-over-year, totaling $2.67 billion for the quarter.

Banque Cantonale Vaudoise purchased a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,909 shares of the business services provider's stock, valued at approximately $1,009,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after purchasing an additional 181 shares during the last quarter. Washington Trust Advisors Inc. bought a new stake in Cintas during the first quarter valued at $46,000. Olde Wealth Management LLC bought a new position in shares of Cintas during the first quarter worth about $55,000. Finally, Carolinas Wealth Consulting LLC increased its holdings in shares of Cintas by 855.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 344 shares of the business services provider's stock worth $63,000 after acquiring an additional 308 shares during the period. Institutional investors own 63.46% of the company's stock.

Cintas Price Performance

NASDAQ CTAS traded up $3.59 on Monday, reaching $225.09. The company's stock had a trading volume of 1,415,907 shares, compared to its average volume of 1,702,304. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The stock has a market cap of $90.71 billion, a PE ratio of 51.04, a PEG ratio of 3.82 and a beta of 1.03. The firm's 50 day moving average is $221.43 and its two-hundred day moving average is $210.55.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the firm earned $3.99 earnings per share. The business's quarterly revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.45 per share. 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%. The ex-dividend date of this dividend is Friday, August 15th. Cintas's payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Bank of America began coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective on the stock. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Finally, UBS Group increased their target price on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $224.54.

Insider Buying and Selling at Cintas

In other Cintas news, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the sale, the director directly owned 21,945 shares of the company's stock, valued at $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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.