Foundations Investment Advisors LLC purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,143 shares of the business services provider's stock, valued at approximately $235,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTAS. GAMMA Investing LLC increased its stake in shares of Cintas by 19,644.3% during the 1st quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after purchasing an additional 2,251,629 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Cintas during the 4th quarter worth approximately $196,057,000. Northern Trust Corp increased its stake in shares of Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after purchasing an additional 472,069 shares during the last quarter. Ameriprise Financial Inc. increased its stake 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 purchasing an additional 468,950 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Cintas by 150.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 719,059 shares of the business services provider's stock worth $131,372,000 after purchasing an additional 431,570 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Cintas news, Director Martin Mucci acquired 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The shares were purchased at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the transaction, the director owned 2,621 shares in the company, valued at $583,303.55. This 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 available at the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.
Cintas Price Performance
NASDAQ:CTAS traded up $3.59 during mid-day trading on Monday, reaching $225.09. The stock had a trading volume of 1,431,663 shares, compared to its average volume of 1,706,561. The stock has a market capitalization of $90.71 billion, a P/E ratio of 51.04, a P/E/G ratio of 3.82 and a beta of 1.03. The firm has a 50 day moving average price of $221.43 and a two-hundred day moving average price of $210.55. 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 Corporation has a one year low of $180.78 and a one year high of $229.24.
Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $2.67 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $3.99 EPS. As a group, analysts expect 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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 15th. This is a boost from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio is 35.37%.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a report on Thursday, May 1st. JPMorgan Chase & Co. assumed coverage on Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target for the company. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. The Goldman Sachs Group lifted their target price on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Robert W. Baird increased their price target on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Two equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $224.54.
Read Our Latest Stock Analysis on Cintas
Cintas Company Profile
(
Free Report)
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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