Geode Capital Management LLC Acquires 97,220 Shares of Cintas Corporation $CTAS

Geode Capital Management LLC increased its holdings in Cintas Corporation (NASDAQ:CTAS) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,293,485 shares of the business services provider’s stock after acquiring an additional 97,220 shares during the quarter. Geode Capital Management LLC owned about 2.32% of Cintas worth $1,746,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Triumph Capital Management bought a new position in shares of Cintas in the 3rd quarter worth about $29,000. Camelot Portfolios LLC bought a new position in shares of Cintas in the 4th quarter worth about $26,000. Key Capital Management INC bought a new position in shares of Cintas in the 4th quarter worth about $28,000. Ares Financial Consulting LLC bought a new position in shares of Cintas in the 4th quarter worth about $32,000. Finally, Washington Trust Advisors Inc. bought a new position in shares of Cintas in the 4th quarter worth about $34,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS stock opened at $173.06 on Friday. The company has a 50 day moving average price of $173.21 and a 200-day moving average price of $184.93. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $229.24. The firm has a market capitalization of $69.24 billion, a PE ratio of 48.89, a P/E/G ratio of 2.99 and a beta of 0.96. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business posted $1.13 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities research analysts expect that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s payout ratio is currently 50.85%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CTAS shares. Stifel Nicolaus decreased their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Citigroup decreased their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Bank of America started coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target for the company. Finally, UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $215.17.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 14.90% of the stock is owned by corporate insiders.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.