J. Safra Sarasin Holding AG Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

J. Safra Sarasin Holding AG increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 196.4% in the 4th quarter, Holdings Channel reports. The firm owned 17,365 shares of the business services provider’s stock after purchasing an additional 11,507 shares during the period. J. Safra Sarasin Holding AG’s holdings in Cintas were worth $3,173,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CTAS. Norges Bank purchased a new position in shares of Cintas in the fourth quarter worth about $877,216,000. Franklin Resources Inc. raised its holdings in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Winslow Capital Management LLC acquired a new position in shares of Cintas during the 4th quarter worth approximately $196,057,000. Finally, Barclays PLC boosted its holdings in shares of Cintas by 340.1% during the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock worth $224,312,000 after purchasing an additional 841,952 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CTAS shares. Morgan Stanley lifted their price objective 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 shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. The Goldman Sachs Group boosted their target price on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company raised their price target on shares of 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 issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $213.62.

Cintas Price Performance

CTAS opened at $200.41 on Tuesday. The firm has a market cap of $80.92 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 3.98 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $201.34 and its 200 day moving average price is $204.29. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the company earned $3.84 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s payout ratio is currently 36.11%.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was 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 in the company, valued at $48,835,235.36. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

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.