Cintas Corporation (NASDAQ:CTAS) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Cintas Corporation by an impressive 1,604.4% during the first quarter, acquiring a total of 20,027 shares valued at approximately $4.1 million.
• Several institutional investors, including Harvest Fund Management and First Foundation Advisors, have also raised their positions in Cintas, reflecting a growing interest in the stock.
• Cintas reported $1.09 earnings per share for the last quarter, exceeding analysts' expectations, with revenues reaching $2.67 billion, an 8% year-over-year increase.

XTX Topco Ltd increased its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1,604.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,027 shares of the business services provider's stock after purchasing an additional 18,852 shares during the quarter. XTX Topco Ltd's holdings in Cintas were worth $4,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock valued at $465,133,000 after acquiring an additional 2,251,629 shares during the period. Winslow Capital Management LLC bought a new position in shares of Cintas in the fourth quarter worth about $196,057,000. Northern Trust Corp boosted its stake in shares of Cintas by 13.1% in the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after acquiring an additional 472,069 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after purchasing an additional 468,950 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Cintas by 150.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 719,059 shares of the business services provider's stock valued at $131,372,000 after purchasing an additional 431,570 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cintas

In other Cintas news, CEO Todd M. Schneider sold 17,301 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares in the company, valued at $137,557,080.80. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were 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 owned 21,945 shares of the company's stock, valued at approximately $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. 15.00% of the stock is owned by insiders.

Cintas Stock Down 0.5%

CTAS stock traded down $1.05 during trading on Friday, hitting $221.50. 1,304,254 shares of the company's stock traded hands, compared to its average volume of 1,708,456. The firm has a market capitalization of $89.26 billion, a P/E ratio of 50.23, a PEG ratio of 3.50 and a beta of 1.05. The business has a fifty day simple moving average of $221.45 and a two-hundred day simple moving average of $210.16. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 1 year low of $180.78 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. Cintas's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $3.99 earnings per share. Sell-side analysts anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.8%. This is a positive change from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. Cintas's payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTAS shares. Bank of America started coverage on shares of Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective for the company. The Goldman Sachs Group upped their price objective on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Robert W. Baird upped their price objective on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Argus raised shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $224.54.

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.