Riverbridge Partners LLC Boosts Stock Position in Cintas Corporation (NASDAQ:CTAS)

Riverbridge Partners LLC increased its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,647 shares of the business services provider’s stock after purchasing an additional 3,515 shares during the quarter. Riverbridge Partners LLC’s holdings in Cintas were worth $42,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MJP Associates Inc. ADV increased its position in Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock worth $441,000 after purchasing an additional 50 shares in the last quarter. TIAA Trust National Association boosted its stake in Cintas by 1.0% in the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after buying an additional 52 shares during the last quarter. Wellspring Financial Advisors LLC boosted its stake in Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock worth $214,000 after buying an additional 52 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in Cintas by 7.7% in the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider’s stock worth $146,000 after buying an additional 52 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its stake in Cintas by 4.2% in the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider’s stock worth $270,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $220.42 on Friday. The business’s 50-day simple moving average is $216.98 and its 200-day simple moving average is $205.59. The firm has a market capitalization of $89.00 billion, a P/E ratio of 51.05, a P/E/G ratio of 3.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. Cintas Corporation has a 1-year low of $172.20 and a 1-year high of $229.24.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. 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. Redburn Atlantic lowered 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. Finally, Citigroup initiated coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $215.81.

About Cintas

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.