Cintas Corporation (NASDAQ:CTAS) Stake Boosted by First Foundation Advisors

Key Points

• First Foundation Advisors increased its stake in Cintas Corporation by 11.7%, acquiring an additional 3,562 shares, bringing their total holdings to 33,918 shares valued at $6,971,000.
• Cintas reported a quarterly revenue of $2.67 billion, exceeding analysts' expectations, and posted an EPS of $1.09, surpassing the consensus estimate by $0.02.
• A number of analysts have recently adjusted their price targets for Cintas, with estimates ranging from $171 to $240, while the stock maintains a consensus rating of "Hold".

First Foundation Advisors raised its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,918 shares of the business services provider's stock after purchasing an additional 3,562 shares during the period. First Foundation Advisors' holdings in Cintas were worth $6,971,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CTAS. Crestwood Advisors Group LLC bought a new position in shares of Cintas in the first quarter worth about $270,000. Ameriprise Financial Inc. increased 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 worth $407,163,000 after acquiring an additional 468,950 shares during the last quarter. Alpine Global Management LLC acquired a new position in Cintas in the 4th quarter valued at $284,000. Treasurer of the State of North Carolina raised its position in shares of Cintas by 12.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider's stock valued at $31,092,000 after buying an additional 18,620 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its position 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 worth $12,327,000 after buying an additional 2,191 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Up 0.2%

Shares of NASDAQ:CTAS traded up $0.45 during midday trading on Wednesday, hitting $223.13. 1,539,276 shares of the stock were exchanged, compared to its average volume of 1,408,039. The business's 50-day moving average price is $221.39 and its 200 day moving average price is $209.85. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The stock has a market capitalization of $89.92 billion, a price-to-earnings ratio of 50.60, a P/E/G ratio of 3.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company 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 quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.99 EPS. Analysts predict 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. Investors of record on Friday, August 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, August 15th. This represents a $1.80 annualized dividend and a dividend yield of 0.81%. This is a boost from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio (DPR) is currently 35.37%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTAS. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. UBS Group upped 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price target (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. Finally, Argus upgraded Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and a consensus price target of $224.54.

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.