Cintas Corporation (NASDAQ:CTAS) Stake Lifted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in Cintas Corporation (NASDAQ:CTAS) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,655,074 shares of the business services provider’s stock after purchasing an additional 30,678 shares during the quarter. Dimensional Fund Advisors LP owned 0.41% of Cintas worth $340,122,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Cintas by 3.9% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider’s stock valued at $258,000 after buying an additional 47 shares during the period. MJP Associates Inc. ADV lifted its holdings in shares of Cintas by 2.1% in the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after buying an additional 50 shares during the period. Kathmere Capital Management LLC lifted its holdings in shares of Cintas by 4.1% in the first quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider’s stock valued at $266,000 after buying an additional 51 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of Cintas by 4.1% in the first quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider’s stock valued at $265,000 after buying an additional 51 shares during the period. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Cintas by 7.7% in the fourth quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider’s stock valued at $146,000 after buying an additional 52 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 2.2%

NASDAQ:CTAS opened at $216.55 on Friday. The firm has a market capitalization of $87.27 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 3.73 and a beta of 1.03. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $220.86 and its 200 day moving average price is $212.13.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. Cintas’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.99 earnings per share. On average, sell-side analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.8%. Cintas’s payout ratio is presently 35.37%.

Insider Activity at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares of the company’s stock, valued at $4,904,049.15. This represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the transaction, the chief executive officer directly owned 622,712 shares in the company, valued at approximately $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several research analyst reports. Robert W. Baird upped their price objective on Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 18th. UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company raised Cintas from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Redburn Atlantic downgraded Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price for the company. in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. started coverage on Cintas in a report on Monday, July 14th. They set an “overweight” rating and a $239.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $224.54.

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.