Alpine Global Management LLC Makes New $284,000 Investment in Cintas Co. (NASDAQ:CTAS)

Alpine Global Management LLC bought a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,554 shares of the business services provider’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its position in shares of Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after purchasing an additional 1,450 shares during the period. KMG Fiduciary Partners LLC increased its position in Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Annex Advisory Services LLC raised its holdings in Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares during the last quarter. Finally, LVM Capital Management Ltd. MI lifted its stake in Cintas by 292.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock valued at $1,002,000 after buying an additional 4,086 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on 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. The Goldman Sachs Group increased their target price on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Citigroup assumed 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. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. Finally, Morgan Stanley boosted their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $213.62.

Cintas Stock Down 2.6 %

CTAS stock opened at $200.41 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company has a market cap of $80.92 billion, a price-to-earnings ratio of 48.32, a P/E/G ratio of 3.98 and a beta of 1.20. The business’s 50-day moving average is $201.34 and its two-hundred day moving average is $204.29. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $3.84 EPS. As a group, analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.78%. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

Insider Transactions at Cintas

In related news, 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 transaction 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 $5,647,979.84. The trade was a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

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.