Ethic Inc. Has $14.18 Million Stock Holdings in Cintas Corporation $CTAS

Key Points

• Ethic Inc. increased its holdings in Cintas Corporation by 6.1%, owning a total of 68,233 shares valued at approximately $14.18 million as of the latest SEC filing.
• Cintas recently announced a dividend increase, raising its quarterly dividend to $0.45 per share, with an annualized yield of 0.8%.
• The stock price of Cintas has seen fluctuations, recently opening at $221.36 and experiencing a 1.7% decline.

Ethic Inc. boosted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,233 shares of the business services provider's stock after buying an additional 3,942 shares during the period. Ethic Inc.'s holdings in Cintas were worth $14,184,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC purchased a new position in shares of Cintas in the 1st quarter worth about $270,000. Ameriprise Financial Inc. raised 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 buying an additional 468,950 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Cintas during the 4th quarter valued at about $284,000. Pinnacle Financial Partners Inc raised its holdings in shares of Cintas by 3.8% during the 1st quarter. Pinnacle Financial Partners Inc now owns 60,099 shares of the business services provider's stock valued at $12,327,000 after buying an additional 2,191 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Cintas by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,967 shares of the business services provider's stock valued at $2,049,000 after buying an additional 3,404 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other news, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the sale, the chief executive officer owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin Mucci acquired 1,200 shares of the company's stock in a transaction dated Monday, July 21st. The stock was purchased at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director directly owned 2,621 shares in the company, valued at approximately $583,303.55. This represents a 84.45% increase in their position. The disclosure for this purchase can be found here. 15.00% of the stock is owned by company insiders.

Cintas Stock Performance

NASDAQ:CTAS traded down $4.81 during midday trading on Friday, reaching $216.55. 1,398,396 shares of the company traded hands, compared to its average volume of 1,309,238. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The firm has a market capitalization of $87.26 billion, a price-to-earnings ratio of 49.10, a price-to-earnings-growth ratio of 3.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The company has a fifty day moving average price of $220.86 and a 200 day moving average price of $212.20.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $2.67 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.99 EPS. On average, analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal 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 paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio (DPR) is presently 40.82%.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. Robert W. Baird raised their target price on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Morgan Stanley raised their target price on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. UBS Group lifted their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group lifted their price objective on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently 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.