Meeder Advisory Services Inc. Has $3.34 Million Position in Cintas Corporation (NASDAQ:CTAS)

Key Points

• Meeder Advisory Services Inc. has increased its holdings in Cintas Corporation by 12.8%, now owning 16,247 shares valued at approximately $3.34 million.
• A significant number of hedge funds have also boosted their positions in Cintas, with GAMMA Investing LLC increasing shares by 19,644.3%, now owning over 2.26 million shares valued at $465.1 million.
• Cintas has received mixed ratings from analysts, with an average target price of $224.54, and some analysts upgrading their ratings while others set lower price targets.

Meeder Advisory Services Inc. raised its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,247 shares of the business services provider's stock after purchasing an additional 1,843 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Cintas were worth $3,339,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its position in Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after purchasing an additional 181 shares during the period. Washington Trust Advisors Inc. purchased a new position in Cintas in the first quarter valued at about $46,000. Olde Wealth Management LLC purchased a new stake in shares of Cintas during the first quarter worth about $55,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of Cintas during the fourth quarter worth about $59,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

Cintas stock traded up $0.45 during trading hours on Wednesday, hitting $223.13. 1,539,276 shares of the company traded hands, compared to its average volume of 1,713,041. The firm has a market cap of $90.10 billion, a P/E ratio of 50.60, a P/E/G ratio of 3.46 and a beta of 1.05. 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 firm's 50-day simple moving average is $221.39 and its two-hundred day simple moving average is $209.85.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.99 earnings per share. As a group, analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio is 35.37%.

Insiders Place Their Bets

In other news, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 622,712 shares in the company, valued at approximately $137,557,080.80. This represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Mucci acquired 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The shares were bought at an average price of $222.55 per share, with a total value of $267,060.00. Following the transaction, the director directly owned 2,621 shares in the company, valued at approximately $583,303.55. The trade was a 84.45% increase in their position. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on CTAS shares. Argus raised Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. The Goldman Sachs Group lifted their target price on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Robert W. Baird lifted their target price on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $224.54.

Cintas 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.