MGO One Seven LLC Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

MGO One Seven LLC boosted its position in Cintas Co. (NASDAQ:CTAS) by 39.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,699 shares of the business services provider’s stock after buying an additional 2,751 shares during the quarter. MGO One Seven LLC’s holdings in Cintas were worth $1,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after acquiring an additional 219,809 shares during the period. Invesco Ltd. increased its stake in shares of Cintas by 6.1% during 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 in the last quarter. Norges Bank purchased a new position in shares of Cintas during the fourth quarter valued at approximately $877,216,000. Franklin Resources Inc. boosted its position in shares of Cintas by 264.7% in the 3rd 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Cintas by 3.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,570,635 shares of the business services provider’s stock worth $469,656,000 after buying an additional 78,533 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Buying and Selling

In related news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. This represents a 23.97 % 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 insiders.

Cintas Stock Performance

CTAS opened at $209.75 on Friday. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The company has a market cap of $84.69 billion, a price-to-earnings ratio of 50.57, 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 company’s 50 day moving average is $201.51 and its 200 day moving average is $204.36.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Analyst Ratings Changes

Several research firms have commented on CTAS. The Goldman Sachs Group boosted their target price on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Bank of America assumed coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target on the stock. UBS Group raised 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. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus price target of $213.62.

Cintas Profile

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.