Western Financial Corp CA Purchases 1,401 Shares of Cintas Corporation (NASDAQ:CTAS)

Western Financial Corp CA increased its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 11.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,417 shares of the business services provider's stock after buying an additional 1,401 shares during the period. Cintas accounts for 1.6% of Western Financial Corp CA's portfolio, making the stock its 8th largest holding. Western Financial Corp CA's holdings in Cintas were worth $2,758,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC bought a new stake in Cintas during the fourth quarter worth approximately $29,000. IAG Wealth Partners LLC boosted its position in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after purchasing an additional 104 shares during the period. Meeder Asset Management Inc. boosted its position in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after purchasing an additional 134 shares during the period. OFI Invest Asset Management bought a new stake in Cintas during the fourth quarter worth approximately $37,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Morgan Stanley upped their target price on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Bank of America assumed coverage on Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Finally, UBS Group raised their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $215.81.

Insider Activity

In related news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated 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 trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the director now owns 27,029 shares of the company's stock, valued at approximately $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 currently owned by corporate insiders.

Cintas Stock Down 1.8%

Shares of NASDAQ CTAS opened at $219.24 on Thursday. The stock has a market cap of $88.53 billion, a PE ratio of 50.78, a PEG ratio of 3.48 and a beta of 1.07. The business has a fifty day moving average of $218.05 and a two-hundred day moving average of $205.51. Cintas Corporation has a 52-week low of $172.20 and a 52-week high of $229.24. 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 (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 (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The business's revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $3.84 earnings per share. As a group, equities research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

About Cintas

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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