Sawyer & Company Inc Makes New $3.08 Million Investment in Cintas Corporation $CTAS

Sawyer & Company Inc bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 4th quarter, Holdings Channel reports. The fund bought 16,363 shares of the business services provider’s stock, valued at approximately $3,077,000.

Several other institutional investors also recently made changes to their positions in the stock. Richardson Financial Services Inc. boosted its position in shares of Cintas by 1.1% during the 4th quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock worth $951,000 after purchasing an additional 54 shares in the last quarter. Woodward Diversified Capital LLC boosted its position in shares of Cintas by 4.7% during the 3rd quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider’s stock worth $252,000 after purchasing an additional 55 shares in the last quarter. Mather Group LLC. boosted its position in shares of Cintas by 1.4% during the 4th quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock worth $824,000 after purchasing an additional 59 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of Cintas by 4.8% during the 3rd quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock worth $267,000 after purchasing an additional 60 shares in the last quarter. Finally, Atlas Legacy Advisors LLC boosted its position in shares of Cintas by 4.1% during the 3rd quarter. Atlas Legacy Advisors LLC now owns 1,560 shares of the business services provider’s stock worth $320,000 after purchasing an additional 62 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the business’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 completion of the transaction, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 14.90% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of several research reports. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a research note on Wednesday, March 11th. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Citigroup cut their price target on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and lifted their price target for the stock from $205.00 to $245.00 in a research note on Wednesday, January 14th. Finally, Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target for the company. One 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $215.17.

Cintas Trading Down 2.9%

NASDAQ:CTAS opened at $169.61 on Friday. The company 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 has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 52-week low of $165.60 and a 52-week high of $229.24. The stock has a fifty day simple moving average of $183.59 and a 200-day simple moving average of $187.22.

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

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.1%. Cintas’s payout ratio is presently 50.85%.

About Cintas

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.