Cintas Co. (NASDAQ:CTAS) Stock Holdings Increased by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,458 shares of the business services provider’s stock after buying an additional 54 shares during the period. Baker Avenue Asset Management LP’s holdings in Cintas were worth $449,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CTAS. Norges Bank bought a new stake in shares of Cintas during the 4th quarter worth $877,216,000. JPMorgan Chase & Co. boosted its position in shares of 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 purchasing an additional 1,286,668 shares during the period. Winslow Capital Management LLC purchased a new position in Cintas in the 4th quarter worth about $196,057,000. Barclays PLC raised its holdings in Cintas by 340.1% during the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock worth $224,312,000 after buying an additional 841,952 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Cintas by 2,729.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,285 shares of the business services provider’s stock valued at $112,778,000 after buying an additional 595,469 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following 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 represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Cintas Price Performance

Shares of CTAS opened at $211.82 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 firm has a market cap of $85.53 billion, a PE ratio of 51.07, a PEG ratio of 3.98 and a beta of 1.20. The firm’s 50 day moving average price is $202.21 and its 200 day moving average price is $204.26. Cintas Co. has a twelve month low of $164.93 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The business 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%. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.84 EPS. As a group, research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s dividend payout ratio is 36.11%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Bank of America assumed coverage on Cintas in a report on Thursday, April 10th. They issued a “buy” rating and a $250.00 target price for the company. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday, March 27th. Citigroup assumed coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. Finally, Redburn Atlantic cut Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $213.88.

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.