Freedom Investment Management Inc. Grows Position in Cintas Co. (NASDAQ:CTAS)

Freedom Investment Management Inc. raised its holdings in Cintas Co. (NASDAQ:CTAS) by 23.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,806 shares of the business services provider’s stock after purchasing an additional 1,298 shares during the period. Freedom Investment Management Inc.’s holdings in Cintas were worth $1,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Guardian Wealth Advisors LLC grew its stake in Cintas by 3.1% in the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after buying an additional 52 shares in the last quarter. MGB Wealth Management LLC grew its position in shares of Cintas by 0.7% in the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after purchasing an additional 52 shares in the last quarter. TIAA Trust National Association raised its stake in shares of Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after purchasing an additional 52 shares during the period. Wellspring Financial Advisors LLC raised its stake in shares of Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 52 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its holdings in Cintas by 2.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock worth $512,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $205.76 on Friday. The firm has a market cap of $83.08 billion, a P/E ratio of 49.61, a P/E/G ratio of 3.98 and a beta of 1.20. The firm’s fifty day moving average is $201.42 and its 200 day moving average is $204.33. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last announced 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 firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $3.84 earnings per share. Research analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Thursday, May 15th. Cintas’s dividend 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 dated 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 transaction, the director now owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CTAS shares. Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target on the stock. Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $213.62.

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.