Oppenheimer Asset Management Inc. Has $5.20 Million Stock Position in Cintas Corporation $CTAS

Oppenheimer Asset Management Inc. trimmed its position in Cintas Corporation (NASDAQ:CTAS) by 47.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,627 shares of the business services provider’s stock after selling 25,439 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cintas were worth $5,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CTAS. Camelot Portfolios LLC acquired a new position in Cintas during the 4th quarter valued at $26,000. Key Capital Management INC acquired a new position in Cintas during the 4th quarter valued at $28,000. Triumph Capital Management acquired a new position in Cintas during the 3rd quarter valued at $29,000. Ares Financial Consulting LLC acquired a new position in Cintas during the 4th quarter valued at $32,000. Finally, Alpine Bank Wealth Management raised its stake in Cintas by 1,092.9% during the 3rd quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 153 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Down 2.9%

Shares of Cintas stock opened at $169.61 on Friday. The firm has a market capitalization of $67.86 billion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 2.99 and a beta of 0.97. The company’s fifty day moving average price is $183.59 and its two-hundred day moving average price is $187.22. Cintas Corporation has a 52-week low of $165.60 and a 52-week high of $229.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

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

Cintas Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.1%. Cintas’s dividend payout ratio is presently 50.85%.

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 dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the sale, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CTAS. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research note on Wednesday, March 11th. Wells Fargo & Company upgraded shares of Cintas from a “cautious” rating to an “overweight” rating and upped their target price for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. Citigroup cut their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Stifel Nicolaus cut their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Finally, UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $215.17.

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.