Sagespring Wealth Partners LLC Invests $449,000 in Cintas Co. (NASDAQ:CTAS)

Sagespring Wealth Partners LLC purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,459 shares of the business services provider's stock, valued at approximately $449,000.

A number of other hedge funds also recently modified their holdings of the business. Guardian Wealth Advisors LLC lifted its position in Cintas by 3.1% in the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock worth $318,000 after buying an additional 52 shares in the last quarter. MGB Wealth Management LLC raised its holdings in shares of Cintas by 0.7% during the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock worth $1,328,000 after acquiring an additional 52 shares in the last quarter. TIAA Trust National Association boosted its position in Cintas by 1.0% during the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock valued at $983,000 after purchasing an additional 52 shares during the last quarter. Wellspring Financial Advisors LLC boosted its position in Cintas by 4.6% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after purchasing an additional 52 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in Cintas by 2.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider's stock valued at $512,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CTAS shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. UBS Group upped their price target on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price on the stock. Robert W. Baird increased their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group boosted their target price on 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 given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $213.62.

Cintas Trading Up 0.5 %

NASDAQ CTAS traded up $1.04 on Friday, reaching $205.76. The company had a trading volume of 1,712,106 shares, compared to its average volume of 1,703,246. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The stock's 50 day moving average is $201.42 and its 200-day moving average is $204.33. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $83.08 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 3.98 and a beta of 1.20.

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

Cintas Announces Dividend

The firm 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. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas's dividend payout ratio (DPR) is currently 36.11%.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction 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 in the company, valued at approximately $5,647,979.84. The trade was a 23.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares of the company's stock, 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. Corporate insiders own 15.00% of the company's stock.

Cintas 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.