Cintas Corporation $CTAS Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. lifted its position in shares of Cintas Corporation (NASDAQ:CTAS) by 105.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,814 shares of the business services provider’s stock after purchasing an additional 35,381 shares during the period. Cibc World Market Inc.’s holdings in Cintas were worth $12,942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Camelot Portfolios LLC purchased a new position in shares of Cintas in the 4th quarter valued at about $26,000. Key Capital Management INC purchased a new stake in Cintas during the fourth quarter worth approximately $28,000. Triumph Capital Management acquired a new position in Cintas in the third quarter valued at approximately $29,000. Ares Financial Consulting LLC purchased a new position in Cintas in the fourth quarter valued at approximately $32,000. Finally, Aventura Private Wealth LLC purchased a new position in Cintas in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTAS. Bank of America initiated coverage on shares of Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective for the company. Citigroup dropped their target price 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. Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Weiss Ratings downgraded shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $215.17.

Cintas Trading Down 0.1%

NASDAQ CTAS opened at $179.85 on Friday. The firm’s fifty day moving average is $172.59 and its two-hundred day moving average is $184.49. Cintas Corporation has a one year low of $161.16 and a one year high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a market cap of $71.96 billion, a PE ratio of 50.81, a P/E/G ratio of 2.86 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. Analysts expect that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s payout ratio is presently 50.85%.

Insider Activity

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 stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 14.90% of the company’s stock.

Cintas 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.