Cintas Corporation (NASDAQ:CTAS) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in shares of Cintas Corporation (NASDAQ:CTAS) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,720 shares of the business services provider’s stock after buying an additional 1,090 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cintas were worth $14,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. Ameriprise Financial Inc. grew its position in shares of Cintas by 26.7% in the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider’s stock valued at $407,163,000 after purchasing an additional 468,950 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Cintas in the fourth quarter valued at about $284,000. Treasurer of the State of North Carolina grew its position in shares of Cintas by 12.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider’s stock valued at $31,092,000 after purchasing an additional 18,620 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Cintas by 97.6% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider’s stock valued at $1,365,000 after purchasing an additional 3,690 shares during the period. Finally, Schulhoff & Co. Inc. acquired a new stake in shares of Cintas in the fourth quarter valued at about $258,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTAS. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday, March 27th. Redburn Atlantic downgraded shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $240.00 price target (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Finally, Morgan Stanley raised their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $215.81.

Insiders Place Their Bets

In other news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Price Performance

Shares of CTAS stock opened at $221.32 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The firm’s 50-day moving average is $216.30 and its two-hundred day moving average is $205.50. Cintas Corporation has a 12 month low of $172.20 and a 12 month high of $229.24. The company has a market capitalization of $89.37 billion, a PE ratio of 51.26, a price-to-earnings-growth ratio of 3.47 and a beta of 1.07.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm earned $3.84 earnings per share. Cintas’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Cintas Company 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.