Jacobi Capital Management LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 136.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 97 shares of the business services provider’s stock after purchasing an additional 56 shares during the period. Jacobi Capital Management LLC’s holdings in Cintas were worth $33,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP lifted its position in shares of Cintas by 3.5% during the 4th quarter. First Trust Advisors LP now owns 85,988 shares of the business services provider’s stock valued at $30,393,000 after acquiring an additional 2,947 shares during the period. California Public Employees Retirement System lifted its position in shares of Cintas by 4.1% during the 4th quarter. California Public Employees Retirement System now owns 212,201 shares of the business services provider’s stock valued at $75,005,000 after acquiring an additional 8,343 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in shares of Cintas during the 4th quarter valued at $209,000. Baker Tilly Financial LLC bought a new stake in shares of Cintas during the 4th quarter valued at $361,000. Finally, State of Wisconsin Investment Board lifted its position in shares of Cintas by 19.7% during the 4th quarter. State of Wisconsin Investment Board now owns 100,542 shares of the business services provider’s stock valued at $35,538,000 after acquiring an additional 16,556 shares during the period. 63.21% of the stock is currently owned by hedge funds and other institutional investors.
CTAS has been the subject of a number of recent analyst reports. William Blair upgraded Cintas from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 16th. Morgan Stanley upped their target price on Cintas from $324.00 to $333.00 and gave the company an “equal weight” rating in a research report on Thursday, March 18th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $378.00.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Tuesday, March 16th. The business services provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.15. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.76 billion. Cintas had a return on equity of 27.72% and a net margin of 14.32%. Cintas’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 EPS. On average, analysts anticipate that Cintas Co. will post 9.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Saturday, May 15th will be given a $0.75 dividend. The ex-dividend date is Thursday, May 13th. This represents a $3.00 annualized dividend and a yield of 0.85%. Cintas’s dividend payout ratio is presently 36.99%.
In other Cintas news, CAO Michael Lawrence Thompson sold 2,500 shares of the stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $207.98, for a total value of $519,950.00. Following the completion of the transaction, the chief accounting officer now directly owns 70,917 shares in the company, valued at $14,749,317.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 15.80% of the stock is currently owned by company insiders.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms.
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