Vanguard Group Inc. Buys 40,646 Shares of Cintas Corporation $CTAS

Key Points

• Vanguard increased its Q4 stake by 40,646 shares and now owns 38,989,266 shares of Cintas (~9.75%), valued at about $7.33 billion per its SEC filing.
• Insider sale: Director Ronald W. Tysoe sold 4,666 shares on April 20 at an average $178.87 for ~$834,607, reducing his holdings by 17.21% to 22,448 shares; insiders own 14.90% of the stock.
• Cintas reported Q EPS of $1.24 (in line) and revenue of $2.84 billion (up 8.9% YoY), and declared a quarterly dividend of $0.45 ($1.80 annualized, ~1.0% yield).

Vanguard Group Inc. increased its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 0.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,989,266 shares of the business services provider's stock after acquiring an additional 40,646 shares during the period. Vanguard Group Inc. owned about 9.75% of Cintas worth $7,332,711,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Key Capital Management INC bought a new stake in shares of Cintas during the 4th quarter worth approximately $28,000. Triumph Capital Management bought a new position in shares of Cintas in the third quarter valued at $29,000. Alpine Bank Wealth Management increased its holdings in Cintas by 1,092.9% during the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock worth $34,000 after buying an additional 153 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in Cintas during the fourth quarter worth $34,000. Finally, WPG Advisers LLC raised its position in Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock worth $35,000 after acquiring an additional 81 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director owned 22,448 shares of the company's stock, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 14.90% of the stock is owned by corporate insiders.

Cintas Stock Performance

Shares of CTAS stock opened at $175.90 on Monday. The stock has a market cap of $70.38 billion, a P/E ratio of 49.69, a price-to-earnings-growth ratio of 3.10 and a beta of 1.01. Cintas Corporation has a 1 year low of $165.60 and a 1 year high of $229.24. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $185.31 and a 200 day simple moving average of $187.62.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting analysts' consensus estimates of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates 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 last year, the company earned $1.13 EPS. On average, research analysts predict that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas's payout ratio is 50.85%.

Wall Street Analyst Weigh In

A number of analysts have commented on CTAS shares. Wells Fargo & Company raised shares of Cintas from a "cautious" rating to an "overweight" rating and lifted their price objective for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. Argus raised shares of Cintas to a "strong-buy" rating in a report on Wednesday, January 21st. Stifel Nicolaus cut their target price on shares of Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Bank of America initiated coverage on Cintas in a research report on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price target on the stock. Finally, Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Cintas presently has a consensus rating of "Hold" and an average price target of $215.17.

Cintas Company Profile

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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