Gradient Investments LLC Acquires New Holdings in Cintas Co. (NASDAQ:CTAS)

Gradient Investments LLC acquired a new position in Cintas Co. (NASDAQ:CTAS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,117 shares of the business services provider's stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cyrus J. Lawrence LLC bought a new position in Cintas during the fourth quarter valued at $29,000. IAG Wealth Partners LLC increased its stake in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Cintas in the 4th quarter worth about $34,000. Meeder Asset Management Inc. increased its position in Cintas by 239.3% during the 4th 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. Finally, OFI Invest Asset Management purchased a new position in Cintas during the 4th quarter valued at about $37,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of NASDAQ CTAS traded down $0.47 during mid-day trading on Thursday, hitting $226.90. 1,285,634 shares of the company were exchanged, compared to its average volume of 1,691,414. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $211.89 and a 200-day simple moving average of $205.52. Cintas Co. has a 1-year low of $169.46 and a 1-year high of $228.80. The firm has a market cap of $91.62 billion, a price-to-earnings ratio of 54.71, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

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

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTAS. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. Robert W. Baird upped their target price on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Morgan Stanley increased their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Finally, Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $213.88.

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.