Sanibel Captiva Trust Company Inc. increased its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 107.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,700 shares of the business services provider's stock after buying an additional 1,920 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Cintas were worth $760,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MJP Associates Inc. ADV grew its stake in shares of Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after buying an additional 50 shares during the last quarter. MGB Wealth Management LLC grew its position in shares of Cintas by 0.7% in the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock worth $1,328,000 after buying an additional 52 shares during the last quarter. TIAA Trust National Association increased its position in shares of Cintas by 1.0% during the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after purchasing an additional 52 shares in the last quarter. Wellspring Financial Advisors LLC raised its stake in Cintas by 4.6% in the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after buying an additional 52 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its position in shares of Cintas by 7.7% in the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock valued at $146,000 after purchasing an additional 52 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on CTAS shares. UBS Group upped their target price on 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 boosted their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Citigroup started coverage on Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 price objective on the stock. Finally, Bank of America assumed coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and a consensus target price of $215.81.
Check Out Our Latest Analysis on CTAS
Cintas Trading Up 0.8%
Shares of Cintas stock traded up $1.85 during trading hours on Thursday, reaching $223.57. The stock had a trading volume of 1,466,910 shares, compared to its average volume of 1,702,938. The firm has a 50 day simple moving average of $214.01 and a two-hundred day simple moving average of $205.71. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1 year low of $170.93 and a 1 year high of $229.24. The firm has a market capitalization of $90.27 billion, a price-to-earnings ratio of 53.90, a P/E/G ratio of 3.98 and a beta of 1.08.
Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating 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 return on equity of 40.62% and a net margin of 17.23%. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.84 EPS. As a group, equities research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.
Cintas Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.70%. Cintas's payout ratio is 36.11%.
Insider Buying and Selling
In related news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.
Cintas Profile
(
Free Report)
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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