Mesirow Financial Investment Management Inc. Purchases 1,402 Shares of Cintas Corporation (NASDAQ:CTAS)

Key Points

• Mesirow Financial Investment Management Inc. has increased its holdings in Cintas Corporation by 90.5%, acquiring a total of 2,952 shares valued at approximately $607,000.
• Cintas recently reported quarterly earnings of $1.09 per share, exceeding analysts' expectations, and announced a quarterly dividend increase from $0.39 to $0.45 per share.
• Several investment firms have raised their price targets for Cintas, with UBS Group setting a new target at $255.00, reflecting optimism about the company's growth potential.

Mesirow Financial Investment Management Inc. grew its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 90.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,952 shares of the business services provider's stock after acquiring an additional 1,402 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Cintas were worth $607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Cintas by 3.9% during 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 during the period. MJP Associates Inc. ADV boosted its holdings 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 worth $441,000 after buying an additional 50 shares during the period. Kathmere Capital Management LLC boosted its holdings 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 worth $266,000 after buying an additional 51 shares during the period. Pinnacle Associates Ltd. raised its stake in Cintas by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider's stock worth $265,000 after purchasing an additional 51 shares in the last quarter. Finally, Wellspring Financial Advisors LLC raised its stake in Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the business'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 sale, the director directly owned 21,945 shares of the company's stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the sale, the chief executive officer directly owned 622,712 shares in the company, valued at $137,557,080.80. The trade was a 2.70% 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 Price Performance

Shares of Cintas stock traded up $3.59 during midday trading on Monday, hitting $225.09. 1,415,907 shares of the company traded hands, compared to its average volume of 1,702,304. The stock has a market cap of $90.71 billion, a price-to-earnings ratio of 51.04, a PEG ratio of 3.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The firm's fifty day moving average price is $221.43 and its 200-day moving average price is $210.55. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results 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%. The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.99 EPS. As a group, sell-side analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on CTAS. Morgan Stanley lifted their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. UBS Group lifted their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Robert W. Baird boosted their target price on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Royal Bank Of Canada restated a "sector perform" rating and issued a $240.00 target price (up from $215.00) on shares of Cintas in a research report on Monday, June 9th. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cintas presently has a consensus rating of "Hold" and a consensus price target 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.