Camden Capital LLC bought a new position in Cintas Co. (NASDAQ:CTAS) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 626 shares of the business services provider’s stock, valued at approximately $238,000.
A number of other large investors have also modified their holdings of CTAS. Castleview Partners LLC purchased a new position in Cintas in the 2nd quarter worth $34,000. Strategic Blueprint LLC bought a new stake in Cintas in the 2nd quarter worth $36,000. Exchange Traded Concepts LLC grew its holdings in Cintas by 325.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 102 shares of the business services provider’s stock worth $39,000 after acquiring an additional 78 shares during the last quarter. Lion Street Advisors LLC bought a new stake in Cintas in the 2nd quarter worth $44,000. Finally, Assetmark Inc. grew its holdings in Cintas by 38.5% in the 2nd quarter. Assetmark Inc. now owns 126 shares of the business services provider’s stock worth $48,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 63.26% of the company’s stock.
CTAS has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $457.00 price target on the stock in a report on Monday. Robert W. Baird reaffirmed a “buy” rating on shares of Cintas in a research note on Wednesday, September 15th. Barclays lifted their target price on shares of Cintas from $470.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 23rd. Royal Bank of Canada lifted their target price on shares of Cintas from $450.00 to $475.00 and gave the company an “outperform” rating in a research note on Tuesday, November 30th. Finally, Morgan Stanley upped their price objective on shares of Cintas from $365.00 to $399.00 and gave the stock an “equal weight” rating in a report on Thursday, December 23rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $428.00.
In related news, CAO Michael Lawrence Thompson sold 20,227 shares of the firm’s stock in a transaction that occurred on Wednesday, October 6th. The shares were sold at an average price of $389.14, for a total value of $7,871,134.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Melanie W. Barstad sold 3,011 shares of Cintas stock in a transaction on Thursday, October 7th. The stock was sold at an average price of $398.56, for a total transaction of $1,200,064.16. The disclosure for this sale can be found here. Insiders sold 44,392 shares of company stock worth $17,617,203 in the last 90 days. 14.90% of the stock is currently owned by corporate insiders.
CTAS stock opened at $444.10 on Wednesday. Cintas Co. has a twelve month low of $314.62 and a twelve month high of $461.44. The company has a quick ratio of 1.01, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a market cap of $45.92 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 3.32 and a beta of 1.48. The business has a 50 day moving average of $437.52 and a 200 day moving average of $406.69.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, December 22nd. The business services provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.11. Cintas had a return on equity of 32.05% and a net margin of 15.50%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company posted $2.62 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Cintas Co. will post 10.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Monday, November 15th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, November 12th. Cintas’s dividend payout ratio is currently 35.48%.
Cintas Company Profile
Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.
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