22,964 Shares in Cintas Co. (NASDAQ:CTAS) Bought by Kane Investment Management Inc.

Kane Investment Management Inc. purchased a new stake in Cintas Co. (NASDAQ:CTAS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,964 shares of the business services provider’s stock, valued at approximately $4,196,000. Cintas comprises 2.3% of Kane Investment Management Inc.’s holdings, making the stock its 6th biggest holding.

Several other institutional investors have also added to or reduced their stakes in CTAS. Geode Capital Management LLC raised its stake in Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock worth $1,544,822,000 after acquiring an additional 219,809 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock valued at $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank purchased a new position in shares of Cintas in the fourth quarter worth about $877,216,000. Franklin Resources Inc. lifted its holdings in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 1.7 %

Shares of NASDAQ:CTAS opened at $209.62 on Tuesday. The business’s 50 day moving average price is $201.25 and its 200-day moving average price is $204.28. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The firm has a market capitalization of $84.64 billion, a price-to-earnings ratio of 50.54, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the business earned $3.84 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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

Insider Transactions at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 15.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CTAS. UBS Group lifted their price objective 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. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Morgan Stanley increased their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Citigroup began coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus price target of $213.62.

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.