Vanguard Group Inc. Purchases 92,123 Shares of Cintas Co. (NASDAQ:CTAS)

Vanguard Group Inc. increased its position in Cintas Co. (NASDAQ:CTASGet Rating) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,983,902 shares of the business services provider’s stock after purchasing an additional 92,123 shares during the period. Vanguard Group Inc. owned approximately 9.76% of Cintas worth $4,247,053,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Asset Dedication LLC bought a new position in Cintas in the 1st quarter worth about $32,000. HWG Holdings LP bought a new position in Cintas in the 4th quarter worth about $35,000. Riverview Trust Co bought a new position in Cintas during the 1st quarter valued at about $35,000. MCF Advisors LLC purchased a new stake in shares of Cintas during the 1st quarter valued at about $39,000. Finally, O Dell Group LLC increased its position in shares of Cintas by 466.7% during the 4th quarter. O Dell Group LLC now owns 102 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 76.66% of the company’s stock.

Cintas Trading Up 0.3 %

Cintas stock opened at $429.39 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.51 and a debt-to-equity ratio of 0.75. Cintas Co. has a 12-month low of $343.86 and a 12-month high of $461.44. The firm has a 50 day moving average of $410.24 and a 200 day moving average of $396.68. The firm has a market capitalization of $43.82 billion, a price-to-earnings ratio of 36.86, a P/E/G ratio of 3.58 and a beta of 1.44.

Cintas (NASDAQ:CTASGet Rating) last announced its quarterly earnings data on Thursday, July 14th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. Cintas had a net margin of 15.73% and a return on equity of 35.81%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2 billion. During the same period last year, the firm posted $2.47 EPS. The company’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts predict that Cintas Co. will post 12.15 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be issued a dividend of $1.15 per share. This is a positive change from Cintas’s previous quarterly dividend of $0.95. This represents a $4.60 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, August 12th. Cintas’s dividend payout ratio (DPR) is 39.49%.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Cintas from $517.00 to $465.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Royal Bank of Canada reduced their price target on shares of Cintas from $475.00 to $450.00 in a research report on Friday, July 15th. Robert W. Baird upped their price target on shares of Cintas from $440.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Morgan Stanley increased their target price on shares of Cintas from $357.00 to $362.00 and gave the stock an “equal weight” rating in a report on Friday, July 15th. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Saturday, July 23rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $435.89.

Cintas Profile

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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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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