Cintas Co. (NASDAQ:CTAS) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,067,037 shares of the business services provider’s stock after purchasing an additional 472,069 shares during the period. Northern Trust Corp owned 1.01% of Cintas worth $743,048,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Sound Income Strategies LLC acquired a new stake in shares of Cintas in the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas in the 4th quarter worth approximately $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the 4th quarter worth approximately $31,000. IAG Wealth Partners LLC lifted its stake in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after acquiring an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Cintas in the 4th quarter worth approximately $34,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This represents a 23.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTAS. UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target for the company. Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Finally, The Goldman Sachs Group boosted their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $213.62.

Cintas Stock Down 0.1 %

CTAS stock opened at $208.28 on Tuesday. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12. The company’s 50 day simple moving average is $201.61 and its 200-day simple moving average is $204.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The firm has a market capitalization of $84.10 billion, a P/E ratio of 50.22, a P/E/G ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results 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. 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 in the previous year, the business earned $3.84 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s dividend payout ratio is presently 36.11%.

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.