Price T Rowe Associates Inc. MD Grows Stake in Cintas Co. (NASDAQ:CTAS)

Price T Rowe Associates Inc. MD raised its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,570,635 shares of the business services provider's stock after purchasing an additional 78,533 shares during the period. Price T Rowe Associates Inc. MD owned about 0.64% of Cintas worth $469,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC bought a new position in Cintas during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Cintas during the fourth quarter valued at approximately $29,000. Endeavor Private Wealth Inc. purchased a new position in Cintas during the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC raised its stake in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Cintas during the 4th quarter valued at $34,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

NASDAQ:CTAS traded down $0.12 during midday trading on Monday, hitting $208.28. The company's stock had a trading volume of 1,716,069 shares, compared to its average volume of 1,697,450. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The firm's 50 day moving average is $201.61 and its 200-day moving average is $204.32. The firm has a market cap of $84.10 billion, a P/E ratio of 50.22, a P/E/G ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.84 earnings per share. Equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, May 15th. Cintas's payout ratio is presently 36.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. UBS Group increased their price target on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Morgan Stanley raised their target price on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $213.62.

Insiders Place Their Bets

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

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.