Cintas Corporation $CTAS Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 17.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,514,458 shares of the business services provider’s stock after purchasing an additional 224,519 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Cintas were worth $284,824,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. Nemes Rush Group LLC acquired a new stake in Cintas during the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in Cintas during the 4th quarter worth about $25,000. Camelot Portfolios LLC acquired a new stake in Cintas during the 4th quarter worth about $26,000. Key Capital Management INC acquired a new stake in Cintas during the 4th quarter worth about $28,000. Finally, Meeder Asset Management Inc. grew its position in Cintas by 226.7% during the 4th quarter. Meeder Asset Management Inc. now owns 147 shares of the business services provider’s stock worth $28,000 after purchasing an additional 102 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CTAS shares. Stifel Nicolaus cut their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Citigroup lowered their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research note on Wednesday, March 11th. Bank of America assumed coverage on shares of Cintas in a research note on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price on the stock. Finally, UBS Group reissued 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 given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $215.17.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, 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 the SEC website. Corporate insiders own 14.90% of the company’s stock.

Cintas Stock Performance

CTAS stock opened at $176.28 on Monday. The company’s 50-day simple moving average is $173.55 and its 200-day simple moving average is $184.30. 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 Corporation has a 52-week low of $161.16 and a 52-week high of $226.75. The firm has a market cap of $70.53 billion, a P/E ratio of 49.80, a PEG ratio of 2.80 and a beta of 0.94.

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

Cintas Announces Dividend

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

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.