992 Shares in Cintas Corporation (NASDAQ:CTAS) Purchased by LGT Group Foundation

LGT Group Foundation acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 992 shares of the business services provider’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Resona Asset Management Co. Ltd. raised its stake in Cintas by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 133,583 shares of the business services provider’s stock worth $27,392,000 after acquiring an additional 10,154 shares during the period. Stone House Investment Management LLC acquired a new stake in Cintas during the first quarter worth about $41,000. Public Sector Pension Investment Board raised its stake in Cintas by 9.5% during the first quarter. Public Sector Pension Investment Board now owns 44,095 shares of the business services provider’s stock worth $9,063,000 after acquiring an additional 3,833 shares during the period. AIA Group Ltd raised its stake in Cintas by 6.8% during the first quarter. AIA Group Ltd now owns 14,200 shares of the business services provider’s stock worth $2,919,000 after acquiring an additional 900 shares during the period. Finally, Motley Fool Asset Management LLC raised its stake in Cintas by 4.7% during the first quarter. Motley Fool Asset Management LLC now owns 23,054 shares of the business services provider’s stock worth $4,738,000 after acquiring an additional 1,029 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

NASDAQ CTAS opened at $225.10 on Thursday. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The firm has a market capitalization of $90.71 billion, a PE ratio of 51.04, a P/E/G ratio of 3.85 and a beta of 1.03. The company’s 50 day simple moving average is $221.19 and its 200 day simple moving average is $211.80.

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

Cintas Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on CTAS shares. The Goldman Sachs Group upped their target price on shares of Cintas from $233.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. started coverage on shares of Cintas in a research report on Monday, July 14th. They issued an “overweight” rating and a $239.00 target price for the company. Robert W. Baird upped their target price on shares of Cintas from $227.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Finally, Morgan Stanley upped their target price on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $224.54.

Insiders Place Their Bets

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

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.