Syon Capital LLC Takes $284,000 Position in Cintas Co. (NASDAQ:CTAS)

Syon Capital LLC acquired a new stake in shares of Cintas Co. (NASDAQ:CTASFree Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 590 shares of the business services provider’s stock, valued at approximately $284,000.

Several other institutional investors have also recently made changes to their positions in CTAS. Raymond James Trust N.A. increased its position in shares of Cintas by 10.6% during the first quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock worth $314,000 after acquiring an additional 71 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of Cintas by 16.8% during the first quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock worth $7,505,000 after acquiring an additional 2,541 shares in the last quarter. Covestor Ltd increased its position in shares of Cintas by 84.7% during the first quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock worth $139,000 after acquiring an additional 150 shares in the last quarter. Mackenzie Financial Corp grew its position in Cintas by 9.3% in the 1st quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock worth $3,009,000 after purchasing an additional 604 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in Cintas by 19.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock worth $10,410,000 after purchasing an additional 4,037 shares in the last quarter. Institutional investors and hedge funds own 62.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Cintas from a “buy” rating to a “hold” rating and upped their price objective for the stock from $551.00 to $590.00 in a research report on Friday, December 8th. Citigroup reduced their price objective on shares of Cintas from $550.00 to $530.00 and set a “neutral” rating for the company in a research report on Wednesday, October 4th. Royal Bank of Canada increased their target price on shares of Cintas from $525.00 to $645.00 and gave the company an “outperform” rating in a research report on Friday, December 22nd. The Goldman Sachs Group upgraded shares of Cintas from a “buy” rating to a “conviction-buy” rating in a research note on Monday, October 2nd. Finally, Stifel Nicolaus raised their price target on shares of Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research note on Friday, December 22nd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $560.57.

Get Our Latest Analysis on Cintas

Insider Transactions at Cintas

In other news, CFO J. Michael Hansen sold 9,774 shares of Cintas stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $596.91, for a total transaction of $5,834,198.34. Following the completion of the sale, the chief financial officer now directly owns 37,732 shares of the company’s stock, valued at approximately $22,522,608.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.10% of the stock is currently owned by insiders.

Cintas Price Performance

NASDAQ:CTAS traded down $0.70 during trading hours on Friday, hitting $597.81. The stock had a trading volume of 171,430 shares, compared to its average volume of 287,746. The company has a 50 day simple moving average of $575.48 and a two-hundred day simple moving average of $528.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.24 and a quick ratio of 1.89. Cintas Co. has a one year low of $425.00 and a one year high of $607.79. The firm has a market capitalization of $60.60 billion, a price-to-earnings ratio of 43.35, a P/E/G ratio of 3.47 and a beta of 1.28.

Cintas (NASDAQ:CTASGet Free Report) last announced its quarterly earnings results on Thursday, December 21st. The business services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.49 by $0.12. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the firm earned $3.12 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts forecast that Cintas Co. will post 14.57 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 15th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, February 14th. Cintas’s dividend payout ratio is currently 39.19%.

Cintas Profile

(Free Report)

Cintas Corporation provides 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.

See Also

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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