GAMMA Investing LLC Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

GAMMA Investing LLC lifted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 19,644.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,263,091 shares of the business services provider's stock after acquiring an additional 2,251,629 shares during the quarter. GAMMA Investing LLC owned approximately 0.56% of Cintas worth $465,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. Cyrus J. Lawrence LLC bought a new position in shares of Cintas in the fourth quarter worth approximately $29,000. IAG Wealth Partners LLC boosted its position in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after purchasing an additional 104 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Cintas in the fourth quarter worth approximately $34,000. Meeder Asset Management Inc. boosted its position in shares of Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after purchasing an additional 134 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Cintas in the fourth quarter worth approximately $37,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 0.0%

Shares of NASDAQ:CTAS traded up $0.11 during trading on Wednesday, reaching $227.69. 323,113 shares of the company were exchanged, compared to its average volume of 1,688,711. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The firm has a market capitalization of $91.94 billion, a PE ratio of 54.90, a P/E/G ratio of 3.98 and a beta of 1.09. The business's fifty day simple moving average is $211.41 and its 200-day simple moving average is $205.37. Cintas Co. has a 12-month low of $168.11 and a 12-month high of $228.65.

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

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas's payout ratio is 36.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTAS shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. The Goldman Sachs Group upped their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley upped their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. UBS Group upped their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Citigroup initiated coverage on shares of Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cintas presently has an average rating of "Hold" and an average target price of $213.88.

Insider Transactions at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

About Cintas

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.