Riverbridge Partners LLC Buys 3,515 Shares of Cintas Corporation (NASDAQ:CTAS)

Riverbridge Partners LLC lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,647 shares of the business services provider's stock after purchasing an additional 3,515 shares during the quarter. Riverbridge Partners LLC owned 0.05% of Cintas worth $42,472,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Cintas by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after acquiring an additional 219,809 shares during the last quarter. Invesco Ltd. increased its stake in Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after acquiring an additional 296,059 shares during the last quarter. Norges Bank bought a new position in Cintas in the fourth quarter valued at approximately $877,216,000. Northern Trust Corp increased its stake in Cintas by 13.1% in the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after acquiring an additional 472,069 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after acquiring an additional 115,268 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research note on Thursday, May 1st. Bank of America began coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. UBS Group raised their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $240.00 target price (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $215.81.

Cintas Trading Down 0.8%

Shares of NASDAQ:CTAS traded down $1.77 during mid-day trading on Friday, reaching $218.65. 2,667,477 shares of the company's stock were exchanged, compared to its average volume of 1,707,597. The firm has a market capitalization of $88.29 billion, a price-to-earnings ratio of 50.64, a PEG ratio of 3.44 and a beta of 1.07. The business's fifty day moving average price is $217.23 and its 200-day moving average price is $205.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. Cintas Corporation has a twelve month low of $172.20 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion for 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%. Cintas's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.84 earnings per share. On average, research analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

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.