1,533 Shares in Cintas Corporation (NASDAQ:CTAS) Purchased by Advisor Resource Council

Advisor Resource Council purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,533 shares of the business services provider’s stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cyrus J. Lawrence LLC purchased a new position in Cintas in the fourth quarter valued at about $29,000. IAG Wealth Partners LLC boosted its stake in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 134 shares during the last quarter. OFI Invest Asset Management purchased a new position in Cintas in the fourth quarter valued at about $37,000. Finally, VSM Wealth Advisory LLC purchased a new position in Cintas in the fourth quarter valued at about $40,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Cintas stock opened at $220.90 on Tuesday. The firm’s 50 day simple moving average is $217.46 and its 200 day simple moving average is $205.29. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $89.20 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. Cintas Corporation has a 1-year low of $172.20 and a 1-year high of $229.24.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.53% and a return on equity of 41.30%. Cintas’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.84 EPS. As a group, analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction 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 owns 256,528 shares of the company’s stock, valued at $48,835,235.36. This represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction on 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 transaction, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CTAS. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Argus upgraded shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Bank of America began coverage on shares of Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 price target on the stock. Finally, Robert W. Baird upped their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $215.81.

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.