Phoenix Financial Ltd. Takes Position in Cintas Corporation (NASDAQ:CTAS)

Key Points

• Phoenix Financial Ltd. acquired 1,361 shares of Cintas Corporation, valued at approximately $280,000, during the first quarter, while other institutional investors significantly increased their stakes in the company.
• Equities analysts are divided on Cintas, with target prices ranging from $171.00 to $257.00, reflecting mixed ratings including two sell, five hold, and six buy ratings.
• In a recent earnings report, Cintas exceeded analysts' earnings expectations with an EPS of $1.09 and reported revenue growth of 8.0% year-over-year, amounting to $2.67 billion for the quarter.

Phoenix Financial Ltd. bought a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,361 shares of the business services provider's stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. increased its holdings in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after buying an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after buying an additional 181 shares during the last quarter. Washington Trust Advisors Inc. bought a new stake in Cintas in the first quarter valued at about $46,000. Olde Wealth Management LLC bought a new stake in Cintas in the first quarter valued at about $55,000. Finally, Physician Wealth Advisors Inc. bought a new stake in Cintas in the fourth quarter valued at about $59,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cintas news, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the transaction, the chief executive officer directly owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. This trade represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin Mucci acquired 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The shares were bought at an average price of $222.55 per share, with a total value of $267,060.00. Following the transaction, the director directly owned 2,621 shares in the company, valued at approximately $583,303.55. The trade was a 84.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CTAS shares. Wells Fargo & Company raised 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 report on Tuesday, July 1st. Morgan Stanley increased their price target on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $240.00 price target (up from $215.00) on shares of Cintas in a research report on Monday, June 9th. Argus upgraded Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. started coverage on Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $224.54.

Cintas Stock Performance

CTAS stock traded up $1.11 on Wednesday, reaching $223.79. The company's stock had a trading volume of 305,466 shares, compared to its average volume of 1,704,160. The firm has a fifty day moving average of $221.39 and a two-hundred day moving average of $209.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The company has a market capitalization of $90.36 billion, a P/E ratio of 50.67, a price-to-earnings-growth ratio of 3.46 and a beta of 1.05. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company posted $3.99 EPS. As a group, analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.45 per share. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a yield of 0.80%. Cintas's dividend payout ratio (DPR) is presently 35.37%.

Cintas 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.