Fenimore Asset Management Inc Buys 1,192 Shares of Cintas Co. (NASDAQ:CTAS)

Fenimore Asset Management Inc raised its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 277,263 shares of the business services provider's stock after purchasing an additional 1,192 shares during the period. Fenimore Asset Management Inc owned 0.07% of Cintas worth $56,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Cintas by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after acquiring an additional 219,809 shares in the last quarter. Invesco Ltd. increased its position in shares of Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after acquiring an additional 296,059 shares in the last quarter. Norges Bank bought a new stake in shares of Cintas during the fourth quarter worth about $877,216,000. Northern Trust Corp increased its position in shares of Cintas by 13.1% during 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 in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Cintas by 3.3% during the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after acquiring an additional 115,268 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTAS has been the subject of a number of recent analyst reports. Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective for the company. UBS Group increased their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley increased their target price on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group increased their target price on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cintas presently has an average rating of "Hold" and an average price target of $213.88.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the transaction, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Stock Performance

NASDAQ CTAS opened at $227.66 on Monday. Cintas Co. has a 1 year low of $169.46 and a 1 year high of $229.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market capitalization of $91.93 billion, a PE ratio of 54.89, a P/E/G ratio of 3.98 and a beta of 1.07. The company's 50 day simple moving average is $212.71 and its two-hundred day simple moving average is $205.46.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $3.84 EPS. Analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

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.

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