M&T Bank Corp Has $5.93 Million Stake in Cintas Corporation $CTAS

Key Points

• M&T Bank Corp boosted its stake in Cintas by 27.4%, owning 31,545 shares after buying 6,790 more, a position valued at $5.93 million per its latest SEC filing.
• Institutional investors hold 63.46% of CTAS, with Pictet Asset Management owning 2,002,205 shares (about $376.65 million) after adding 181,952 shares in the quarter.
• Cintas posted quarter results roughly in line with expectations (EPS $1.24; revenue $2.84B, +8.9% YoY), announced a quarterly dividend of $0.45 (annualized $1.80, yield 1.1%), and carries a MarketBeat consensus rating of Hold with a $215.17 target.

M&T Bank Corp boosted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 27.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,545 shares of the business services provider's stock after purchasing an additional 6,790 shares during the period. M&T Bank Corp's holdings in Cintas were worth $5,933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC increased its holdings in Cintas by 56.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,954 shares of the business services provider's stock valued at $555,000 after purchasing an additional 1,064 shares in the last quarter. Aprio Wealth Management LLC increased its holdings in Cintas by 7.1% during the 4th quarter. Aprio Wealth Management LLC now owns 1,496 shares of the business services provider's stock valued at $292,000 after purchasing an additional 99 shares in the last quarter. Camelot Portfolios LLC bought a new position in Cintas in the 4th quarter valued at $26,000. Retirement Solution LLC bought a new position in Cintas in the 4th quarter valued at $308,000. Finally, Pictet Asset Management Holding SA boosted its position in Cintas by 10.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,002,205 shares of the business services provider's stock valued at $376,647,000 after buying an additional 181,952 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTAS. UBS Group reiterated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings lowered Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. Wells Fargo & Company upgraded Cintas from a "cautious" rating to an "overweight" rating and increased their price objective for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. Citigroup decreased their price objective on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research report on Tuesday, March 31st. Finally, Stifel Nicolaus decreased their price objective on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cintas has a consensus rating of "Hold" and a consensus target price of $215.17.

Cintas Price Performance

CTAS stock opened at $169.25 on Wednesday. The stock has a 50-day moving average price of $182.98 and a two-hundred day moving average price of $187.08. The stock has a market cap of $67.72 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96. 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 Corporation has a 1 year low of $165.46 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company's revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. Equities analysts forecast that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, May 15th. Cintas's dividend payout ratio is 50.85%.

Insider Transactions at Cintas

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

About Cintas

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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