Logan Capital Management Inc. Grows Stock Position in Cintas Corporation $CTAS

Key Points

• Logan Capital Management increased its Cintas stake by 4.4% in the fourth quarter, adding 5,667 shares and bringing its total holdings to 133,515 shares worth about $25.1 million.
• Several other hedge funds also boosted or initiated positions in Cintas, and institutional investors now own 63.46% of the company’s stock.
• Analysts are mixed on Cintas: the stock has a Hold consensus rating with a $215.17 price target, while the company also reported quarterly earnings and revenue that met or slightly beat estimates and declared a $0.45 quarterly dividend.

Logan Capital Management Inc. grew its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 133,515 shares of the business services provider's stock after acquiring an additional 5,667 shares during the quarter. Cintas accounts for approximately 1.1% of Logan Capital Management Inc.'s holdings, making the stock its 19th largest holding. Logan Capital Management Inc.'s holdings in Cintas were worth $25,110,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Cintas in the 4th quarter valued at approximately $923,672,000. Two Sigma Investments LP increased its stake in Cintas by 5,641.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider's stock valued at $208,682,000 after purchasing an additional 998,963 shares in the last quarter. SG Americas Securities LLC increased its stake in Cintas by 2,653.0% during the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider's stock valued at $188,640,000 after purchasing an additional 966,597 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Cintas by 275.2% in the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider's stock worth $230,556,000 after buying an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP lifted its stake in shares of Cintas by 5,341.8% during the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider's stock worth $153,352,000 after buying an additional 733,380 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird raised shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. Stifel Nicolaus lowered their price target on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price target on the stock. UBS Group restated a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Weiss Ratings downgraded Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $215.17.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company's stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.90% of the company's stock.

Cintas Stock Up 0.8%

Shares of CTAS stock opened at $181.88 on Friday. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The stock has a market cap of $72.77 billion, a P/E ratio of 51.38, a P/E/G ratio of 2.87 and a beta of 0.94. The stock has a 50 day moving average of $173.46 and a 200 day moving average of $184.35. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. As a group, sell-side analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas's dividend payout ratio (DPR) is currently 50.85%.

Cintas Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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