Sendero Wealth Management LLC Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Sendero Wealth Management LLC bought a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,232 shares of the business services provider's stock, valued at approximately $253,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after purchasing an additional 219,809 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank acquired a new stake in shares of Cintas in the fourth quarter valued at approximately $877,216,000. Northern Trust Corp boosted its stake in shares of 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 buying an additional 472,069 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of 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 buying an additional 115,268 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CTAS. Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a report on Thursday, May 1st. Citigroup initiated coverage on Cintas in a research note on Monday, February 24th. They issued a "sell" rating and a $161.00 price target for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 price objective on shares of Cintas 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 report on Thursday, March 27th. Finally, 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 for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $213.88.

Cintas Price Performance

Shares of NASDAQ:CTAS traded up $0.76 during trading on Friday, hitting $227.66. 1,010,259 shares of the company were exchanged, compared to its average volume of 1,690,671. Cintas Co. has a 1-year low of $169.46 and a 1-year high of $229.17. The company has a market capitalization of $91.93 billion, a P/E ratio of 54.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.07. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $212.32 and its 200-day moving average is $205.59.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the company posted $3.84 EPS. Cintas's quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas's dividend payout ratio is presently 36.11%.

Insider Buying and Selling

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate 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.