Cintas Co. (NASDAQ:CTAS) Stock Position Reduced by Fred Alger Management LLC

Fred Alger Management LLC lessened its position in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) by 17.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 41,496 shares of the business services provider’s stock after selling 8,630 shares during the quarter. Fred Alger Management LLC’s holdings in Cintas were worth $16,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Baron Silver Stevens Financial Advisors LLC bought a new position in Cintas during the 3rd quarter worth approximately $204,000. HWG Holdings LP bought a new position in Cintas during the 3rd quarter worth approximately $27,000. Quent Capital LLC lifted its holdings in Cintas by 169.2% during the 3rd quarter. Quent Capital LLC now owns 70 shares of the business services provider’s stock worth $27,000 after buying an additional 44 shares during the last quarter. Asset Dedication LLC bought a new position in Cintas during the 3rd quarter worth approximately $29,000. Finally, Ronald Blue Trust Inc. bought a new position in Cintas during the 2nd quarter worth approximately $39,000. Institutional investors own 61.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley increased their target price on Cintas from $373.00 to $401.00 and gave the stock an “equal weight” rating in a report on Thursday, December 22nd. Wells Fargo & Company increased their price target on Cintas from $393.00 to $450.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 22nd. Royal Bank of Canada increased their price target on Cintas from $450.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, November 28th. Deutsche Bank Aktiengesellschaft increased their price target on Cintas from $490.00 to $507.00 and gave the stock a “buy” rating in a research report on Thursday, December 22nd. Finally, Robert W. Baird increased their price target on Cintas from $475.00 to $500.00 in a research report on Thursday, December 22nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $476.10.

Cintas Stock Up 2.5 %

CTAS opened at $441.75 on Wednesday. Cintas Co. has a 12 month low of $343.86 and a 12 month high of $470.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.53. The stock has a market cap of $44.89 billion, a P/E ratio of 35.94, a P/E/G ratio of 3.00 and a beta of 1.34. The stock’s 50 day moving average price is $440.14 and its 200 day moving average price is $431.06.

Cintas (NASDAQ:CTAS – Get Rating) last posted its earnings results on Wednesday, December 21st. The business services provider reported $3.12 EPS for the quarter, beating the consensus estimate of $3.03 by $0.09. Cintas had a return on equity of 37.89% and a net margin of 15.35%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $2.76 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that Cintas Co. will post 12.68 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.43%.

Insider Activity

In other news, CAO Michael Lawrence Thompson sold 14,795 shares of Cintas stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $444.98, for a total transaction of $6,583,479.10. Following the transaction, the chief accounting officer now directly owns 23,318 shares in the company, valued at approximately $10,376,043.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO J. Michael Hansen sold 1,618 shares of Cintas stock in a transaction on Monday, February 6th. The stock was sold at an average price of $441.85, for a total transaction of $714,913.30. Following the transaction, the chief financial officer now directly owns 30,132 shares in the company, valued at approximately $13,313,824.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael Lawrence Thompson sold 14,795 shares of Cintas stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $444.98, for a total value of $6,583,479.10. Following the transaction, the chief accounting officer now owns 23,318 shares in the company, valued at $10,376,043.64. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.

Cintas Company Profile

(Get Rating)

Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.