Cintas Corporation $CTAS Shares Purchased by ExodusPoint Capital Management LP

Key Points

• ExodusPoint Capital Management increased its Cintas stake by 14.9% in the fourth quarter, adding 17,370 shares and bringing its total holding to 134,044 shares worth about $25.2 million.
• Cintas reported solid quarterly results, meeting EPS estimates at $1.24 and slightly topping revenue expectations at $2.84 billion, with revenue up 8.9% year over year.
• The company also paid a quarterly dividend of $0.45 per share, which annualizes to $1.80 and implies a dividend yield of about 1.0% at the time of the report.

ExodusPoint Capital Management LP increased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,044 shares of the business services provider's stock after acquiring an additional 17,370 shares during the quarter. ExodusPoint Capital Management LP's holdings in Cintas were worth $25,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prana Capital Management LP acquired a new position in shares of Cintas during the 3rd quarter valued at about $14,312,000. First Trust Advisors LP boosted its position in shares of Cintas by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider's stock valued at $84,909,000 after acquiring an additional 10,249 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Cintas by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider's stock valued at $7,994,594,000 after acquiring an additional 564,487 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Cintas in the 4th quarter valued at about $15,736,000. Finally, California Public Employees Retirement System raised its holdings in Cintas by 19.0% in the 3rd quarter. California Public Employees Retirement System now owns 792,816 shares of the business services provider's stock valued at $162,733,000 after buying an additional 126,845 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Up 1.1%

Shares of CTAS opened at $176.71 on Wednesday. The firm has a market cap of $70.70 billion, a P/E ratio of 49.92, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The company's 50-day moving average price is $173.60 and its 200 day moving average price is $184.19.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 earnings per share. On average, sell-side analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were 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 was Friday, May 15th. Cintas's dividend payout ratio is currently 50.85%.

Insider Activity

In related news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTAS. Bank of America began coverage on shares of Cintas in a report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price objective on the stock. Stifel Nicolaus reduced their price objective on shares of Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. UBS Group restated a "buy" rating on shares of Cintas in a report on Thursday, March 12th. Robert W. Baird upgraded shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. Finally, Weiss Ratings lowered shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $215.92.

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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