Cintas Corporation $CTAS Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in Cintas Corporation (NASDAQ:CTAS) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,506 shares of the business services provider’s stock after buying an additional 4,817 shares during the period. QRG Capital Management Inc.’s holdings in Cintas were worth $6,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Two Sigma Investments LP grew its stake in Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock worth $208,682,000 after acquiring an additional 998,963 shares during the period. SG Americas Securities LLC lifted its stake in shares of Cintas by 2,653.0% during the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock worth $188,640,000 after purchasing an additional 966,597 shares during the period. Voloridge Investment Management LLC lifted its stake in shares of Cintas by 275.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock worth $230,556,000 after purchasing an additional 823,885 shares during the period. Freestone Grove Partners LP boosted its holdings in shares of Cintas by 5,341.8% during the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after purchasing an additional 733,380 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Cintas by 125.5% in the third quarter. Alliancebernstein L.P. now owns 1,130,292 shares of the business services provider’s stock valued at $232,004,000 after purchasing an additional 629,065 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of several analyst reports. Citigroup dropped their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and lifted their price target for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Stifel Nicolaus dropped their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Finally, Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $215.17.

Cintas Stock Up 1.4%

Shares of NASDAQ CTAS opened at $169.25 on Wednesday. The stock has a market capitalization of $67.72 billion, a PE ratio of 47.81, a P/E/G ratio of 2.94 and a beta of 0.96. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $182.98 and a 200-day moving average of $187.08. Cintas Corporation has a 52-week low of $165.46 and a 52-week high of $229.24.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

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

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director owned 22,448 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 14.90% of the stock is owned by corporate insiders.

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.