Suncoast Equity Management Has $4.49 Million Stock Position in Cintas Corporation $CTAS

Suncoast Equity Management increased its stake in Cintas Corporation (NASDAQ:CTAS) by 53.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,845 shares of the business services provider’s stock after buying an additional 8,330 shares during the period. Cintas makes up about 0.5% of Suncoast Equity Management’s portfolio, making the stock its 28th biggest position. Suncoast Equity Management’s holdings in Cintas were worth $4,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP boosted its position in shares of Cintas by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock valued at $84,909,000 after purchasing an additional 10,249 shares in the last quarter. Prana Capital Management LP bought a new stake in shares of Cintas during the 3rd quarter valued at about $14,312,000. Vanguard Group Inc. boosted its position in shares of Cintas by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after purchasing an additional 564,487 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Cintas during the 4th quarter valued at about $15,736,000. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Cintas by 2.3% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 150,809 shares of the business services provider’s stock valued at $30,955,000 after purchasing an additional 3,397 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CTAS. Bank of America initiated coverage on Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price on the stock. Weiss Ratings downgraded Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Citigroup dropped their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and an average price target of $215.17.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.90% of the stock is currently owned by company insiders.

Cintas Price Performance

CTAS stock opened at $171.26 on Monday. The stock’s 50 day simple moving average is $172.93 and its 200 day simple moving average is $184.83. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The company has a market cap of $68.52 billion, a P/E ratio of 48.38, a price-to-earnings-growth ratio of 3.02 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 earnings per share. On average, research analysts expect that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. Cintas’s dividend payout ratio is 50.85%.

Cintas Company Profile

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.