Asahi Life Asset Management CO. LTD. bought a new stake in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 875 shares of the business services provider's stock, valued at approximately $340,000.
A number of other large investors have also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC boosted its holdings in shares of Cintas by 17.1% during the second quarter. Integrated Wealth Concepts LLC now owns 1,301 shares of the business services provider's stock worth $486,000 after purchasing an additional 190 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Cintas by 30.2% during the third quarter. Kestra Advisory Services LLC now owns 8,062 shares of the business services provider's stock worth $3,130,000 after purchasing an additional 1,869 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Cintas by 59.7% during the second quarter. Pinebridge Investments L.P. now owns 4,801 shares of the business services provider's stock worth $1,793,000 after purchasing an additional 1,794 shares during the last quarter. NorthRock Partners LLC boosted its holdings in shares of Cintas by 3.5% during the third quarter. NorthRock Partners LLC now owns 1,164 shares of the business services provider's stock worth $452,000 after purchasing an additional 39 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Cintas by 4.5% during the second quarter. Crossmark Global Holdings Inc. now owns 6,559 shares of the business services provider's stock worth $2,450,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 61.92% of the company's stock.
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Insider Buying and Selling at Cintas
In other news, Director Melanie W. Barstad sold 2,116 shares of Cintas stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $415.43, for a total transaction of $879,049.88. Following the sale, the director now directly owns 6,250 shares of the company's stock, valued at $2,596,437.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Melanie W. Barstad sold 2,116 shares of Cintas stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $415.43, for a total transaction of $879,049.88. Following the sale, the director now directly owns 6,250 shares of the company's stock, valued at $2,596,437.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Lawrence Thompson sold 14,795 shares of Cintas stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $444.98, for a total value of $6,583,479.10. Following the sale, the chief accounting officer now directly owns 23,318 shares in the company, valued at $10,376,043.64. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
CTAS has been the topic of several analyst reports. Morgan Stanley raised their price objective on Cintas from $373.00 to $401.00 and gave the stock an "equal weight" rating in a report on Thursday, December 22nd. StockNews.com began coverage on Cintas in a research report on Wednesday, October 12th. They issued a "buy" rating on the stock. The Goldman Sachs Group increased their target price on Cintas from $495.00 to $530.00 in a research report on Wednesday, December 21st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $463.00 target price on shares of Cintas in a research report on Tuesday, October 25th. Finally, Wells Fargo & Company increased their target price on Cintas from $393.00 to $450.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 22nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $476.10.
Cintas Stock Down 1.5 %
NASDAQ:CTAS traded down $6.80 during mid-day trading on Wednesday, hitting $433.44. The company had a trading volume of 25,730 shares, compared to its average volume of 357,239. The business has a fifty day simple moving average of $450.24 and a 200-day simple moving average of $425.00. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 0.72. Cintas Co. has a 1 year low of $343.86 and a 1 year high of $470.23. The firm has a market capitalization of $44.05 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 3.07 and a beta of 1.36.
Cintas (NASDAQ:CTAS – Get Rating) last released its quarterly earnings data on Wednesday, December 21st. The business services provider reported $3.12 EPS for the quarter, beating the consensus estimate of $3.03 by $0.09. Cintas had a return on equity of 37.89% and a net margin of 15.35%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company posted $2.76 earnings per share. The firm's revenue was up 13.1% compared to the same quarter last year. Equities analysts forecast that Cintas Co. will post 12.68 earnings per share for the current fiscal year.
Cintas Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.06%. The ex-dividend date is Tuesday, February 14th. Cintas's dividend payout ratio (DPR) is presently 37.43%.
Cintas Company Profile
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Cintas Corporation provides 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.
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