Envestnet Asset Management Inc. lowered its stake in Cintas Co. (NASDAQ:CTAS – Get Rating) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,238 shares of the business services provider’s stock after selling 8,108 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Cintas worth $29,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of CTAS. Raymond James Trust N.A. raised its position in Cintas by 10.6% in the 1st quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 71 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Cintas by 16.8% during the 1st quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock worth $7,505,000 after acquiring an additional 2,541 shares in the last quarter. Covestor Ltd raised its position in shares of Cintas by 84.7% during the 1st quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock worth $139,000 after acquiring an additional 150 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Cintas by 9.3% during the 1st quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock worth $3,009,000 after acquiring an additional 604 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Cintas by 19.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock worth $10,410,000 after acquiring an additional 4,037 shares in the last quarter. Institutional investors and hedge funds own 61.92% of the company’s stock.
Analyst Upgrades and Downgrades
CTAS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Cintas from $490.00 to $507.00 and gave the stock a “buy” rating in a research report on Thursday, December 22nd. The Goldman Sachs Group raised their price target on Cintas from $495.00 to $530.00 in a research note on Wednesday, December 21st. Robert W. Baird raised their price target on Cintas from $475.00 to $500.00 in a research note on Thursday, December 22nd. Jefferies Financial Group restated a “buy” rating and set a $463.00 price target on shares of Cintas in a research note on Tuesday, October 25th. Finally, Wells Fargo & Company raised their price target on Cintas from $393.00 to $450.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 22nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Cintas has an average rating of “Moderate Buy” and a consensus price target of $476.10.
Cintas Stock Up 0.6 %
Cintas stock opened at $444.10 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.53. Cintas Co. has a 1-year low of $343.86 and a 1-year high of $470.23. The company has a market cap of $45.13 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 3.11 and a beta of 1.33. The stock’s 50 day moving average price is $445.50 and its 200 day moving average price is $430.50.
Cintas (NASDAQ:CTAS – Get Rating) last posted its quarterly earnings results on Wednesday, December 21st. The business services provider reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.03 by $0.09. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Cintas had a return on equity of 37.89% and a net margin of 15.35%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.76 earnings per share. On average, sell-side analysts predict that Cintas Co. will post 12.68 EPS for the current fiscal year.
Cintas Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, February 15th will be issued a dividend of $1.15 per share. The ex-dividend date is Tuesday, February 14th. This represents a $4.60 annualized dividend and a yield of 1.04%. Cintas’s dividend payout ratio is presently 37.43%.
Insider Buying and Selling
In related news, CAO Michael Lawrence Thompson sold 14,795 shares of Cintas stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $444.98, for a total transaction of $6,583,479.10. Following the completion of the transaction, the chief accounting officer now directly owns 23,318 shares of the company’s stock, valued at $10,376,043.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Michael Lawrence Thompson sold 14,795 shares of the business’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $444.98, for a total value of $6,583,479.10. Following the completion of the transaction, the chief accounting officer now directly owns 23,318 shares of the company’s stock, valued at $10,376,043.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO J. Michael Hansen sold 1,618 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $441.85, for a total value of $714,913.30. Following the completion of the transaction, the chief financial officer now directly owns 30,132 shares of the company’s stock, valued at $13,313,824.20. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.
Cintas Company Profile
Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.