Johnson Investment Counsel Inc. Acquires 3,753 Shares of Cintas Corporation (NASDAQ:CTAS)

Johnson Investment Counsel Inc. lifted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,053 shares of the business services provider's stock after purchasing an additional 3,753 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Cintas were worth $30,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after acquiring an additional 108 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Cintas by 0.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after acquiring an additional 3,504 shares during the period. Principal Securities Inc. raised its holdings in shares of Cintas by 71.7% during the fourth quarter. Principal Securities Inc. now owns 9,836 shares of the business services provider's stock valued at $1,797,000 after purchasing an additional 4,107 shares during the last quarter. Allworth Financial LP lifted its position in Cintas by 3.4% during the fourth quarter. Allworth Financial LP now owns 5,800 shares of the business services provider's stock valued at $1,154,000 after purchasing an additional 192 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Cintas by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 514,928 shares of the business services provider's stock worth $94,077,000 after purchasing an additional 11,406 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Insider Activity

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction 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 sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Cintas Trading Down 0.4%

Cintas stock opened at $220.42 on Thursday. Cintas Corporation has a 12-month low of $172.20 and a 12-month high of $229.24. The firm has a market capitalization of $89.00 billion, a price-to-earnings ratio of 51.05, a P/E/G ratio of 3.45 and a beta of 1.07. The firm has a 50 day moving average of $216.63 and a 200 day moving average of $205.61. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The company's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.84 earnings per share. As a group, research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. Cintas's dividend payout ratio is presently 36.11%.

Analyst Ratings Changes

A number of brokerages have weighed in on CTAS. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. Morgan Stanley lifted their price objective on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. UBS Group increased their target price on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Robert W. Baird raised their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" 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 price target for the company. in a research report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cintas has a consensus rating of "Hold" and an average target price of $215.81.

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.

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