Challenger Wealth Management Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Challenger Wealth Management purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,841 shares of the business services provider's stock, valued at approximately $884,000. Cintas makes up approximately 0.8% of Challenger Wealth Management's portfolio, making the stock its 28th largest position.

Several other institutional investors and hedge funds have also modified their holdings of CTAS. Sound Income Strategies LLC purchased a new position in shares of Cintas during the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new stake in Cintas in the fourth quarter worth $29,000. IAG Wealth Partners LLC boosted its holdings in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after acquiring an additional 104 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in Cintas during the fourth quarter valued at about $34,000. Finally, Meeder Asset Management Inc. boosted its holdings 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 acquiring an additional 134 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CTAS shares. Robert W. Baird upped their price target on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target for the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Finally, UBS Group raised their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $213.88.

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated 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 transaction, the director now 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 business'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 value 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 represents a 0.77% 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 Trading Up 0.7%

NASDAQ:CTAS traded up $1.54 during mid-day trading on Friday, hitting $226.29. The company had a trading volume of 409,867 shares, compared to its average volume of 1,694,621. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a fifty-two week low of $165.06 and a fifty-two week high of $228.12. The firm has a market cap of $91.37 billion, a P/E ratio of 54.56, a P/E/G ratio of 3.98 and a beta of 1.09. The business's fifty day moving average is $209.88 and its two-hundred day moving average is $205.33.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results 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. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the prior year, the business posted $3.84 EPS. Cintas's revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a $0.39 dividend. 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 presently 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.