Bristol Gate Capital Partners Inc. Grows Holdings in Cintas Corporation (NASDAQ:CTAS)

Key Points

• Bristol Gate Capital Partners Inc. increased its stake in Cintas Corporation by 0.4%, holding 514,722 shares valued at approximately $105.79 million, making it the 5th largest holding in their portfolio.
• The company reported a quarterly earnings per share (EPS) of $1.09, exceeding analysts' expectations of $1.07, along with an 8.0% year-over-year revenue growth to $2.67 billion.
• Cintas has declared a quarterly dividend of $0.45, an increase from the previous $0.39, with an upcoming payment date on September 15th for investors of record by August 15th.

Bristol Gate Capital Partners Inc. grew its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 514,722 shares of the business services provider's stock after acquiring an additional 2,271 shares during the quarter. Cintas comprises approximately 5.2% of Bristol Gate Capital Partners Inc.'s portfolio, making the stock its 5th biggest position. Bristol Gate Capital Partners Inc. owned approximately 0.13% of Cintas worth $105,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Cintas by 3.9% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock worth $258,000 after buying an additional 47 shares in the last quarter. MJP Associates Inc. ADV grew its stake in shares of Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after purchasing an additional 50 shares during the period. Kathmere Capital Management LLC grew its stake in shares of Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock valued at $266,000 after purchasing an additional 51 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Cintas by 4.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider's stock valued at $265,000 after purchasing an additional 51 shares during the period. Finally, Wellspring Financial Advisors LLC grew its stake in shares of Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after purchasing an additional 52 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CTAS shares. Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 price target (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Argus upgraded Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. started coverage on Cintas in a research note on Monday, July 14th. They set an "overweight" rating and a $239.00 price target for the company. Finally, The Goldman Sachs Group boosted their price target on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Two equities 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Price Performance

NASDAQ CTAS traded down $1.05 during trading hours on Friday, reaching $221.50. The company's stock had a trading volume of 1,304,254 shares, compared to its average volume of 1,374,874. The firm's 50-day moving average price is $221.45 and its 200-day moving average price is $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. The company has a market capitalization of $89.26 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 3.50 and a beta of 1.03.

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, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.99 EPS. On average, equities research analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

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

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 5,084 shares of the company's 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 sale, the director directly owned 21,945 shares of the company's stock, valued at $4,904,049.15. This represents a 18.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Mucci acquired 1,200 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were purchased at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the acquisition, the director directly owned 2,621 shares in the company, valued at approximately $583,303.55. This represents a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 15.00% of the company's stock.

Cintas Company 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.