Absolute Capital Management LLC Makes New $790,000 Investment in Cintas Corporation $CTAS

Absolute Capital Management LLC purchased a new position in Cintas Corporation (NASDAQ:CTAS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,198 shares of the business services provider’s stock, valued at approximately $790,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Xponance LLC boosted its stake in Cintas by 5.4% in the 4th quarter. Xponance LLC now owns 89,825 shares of the business services provider’s stock worth $16,893,000 after buying an additional 4,603 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in Cintas by 0.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 30,195 shares of the business services provider’s stock worth $5,679,000 after buying an additional 242 shares during the last quarter. Canopy Partners LLC boosted its stake in Cintas by 30.4% in the 4th quarter. Canopy Partners LLC now owns 3,316 shares of the business services provider’s stock worth $624,000 after buying an additional 774 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Cintas by 1.8% in the 4th quarter. IFM Investors Pty Ltd now owns 71,481 shares of the business services provider’s stock worth $13,443,000 after buying an additional 1,235 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new stake in Cintas in the 4th quarter worth about $1,903,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 14.90% of the company’s stock.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $181.88 on Friday. The company has a market cap of $72.77 billion, a P/E ratio of 51.38, a PEG ratio of 2.87 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The business’s 50-day simple moving average is $173.46 and its 200 day simple moving average is $184.35.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. On average, sell-side analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Stifel Nicolaus cut their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Weiss Ratings downgraded Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Finally, Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $215.17.

Cintas Company 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.