Sandro Wealth Management LLC Acquires New Position in Cintas Corporation $CTAS

Sandro Wealth Management LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,328 shares of the business services provider’s stock, valued at approximately $2,130,000. Cintas accounts for 1.8% of Sandro Wealth Management LLC’s holdings, making the stock its 16th largest holding.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Cintas by 1.5% in the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after buying an additional 564,487 shares during the period. Nordea Investment Management AB lifted its holdings in Cintas by 6.2% in the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock valued at $517,466,000 after buying an additional 158,785 shares during the period. Ameriprise Financial Inc. lifted its holdings in Cintas by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock valued at $524,460,000 after buying an additional 12,841 shares during the period. Amundi lifted its holdings in Cintas by 39.0% in the third quarter. Amundi now owns 2,223,411 shares of the business services provider’s stock valued at $442,548,000 after buying an additional 623,770 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in Cintas by 10.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,002,205 shares of the business services provider’s stock valued at $376,647,000 after buying an additional 181,952 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on CTAS shares. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. Argus raised shares of Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Bank of America began coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. Finally, Citigroup reduced their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average price target of $215.17.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is owned by company insiders.

Cintas Price Performance

CTAS opened at $169.61 on Friday. The stock has a market cap of $67.86 billion, a P/E ratio of 47.91, a P/E/G ratio of 3.08 and a beta of 0.97. Cintas Corporation has a 12 month low of $165.60 and a 12 month high of $229.24. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $183.59 and a 200 day simple moving average of $187.22.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.13 earnings per share. On average, research analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, May 15th. Cintas’s dividend payout ratio is 50.85%.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.