Sei Investments Co. Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Sei Investments Co. boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 24.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,057 shares of the business services provider’s stock after purchasing an additional 8,614 shares during the quarter. Sei Investments Co.’s holdings in Cintas were worth $20,386,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CTAS. Clearstead Advisors LLC acquired a new position in Cintas in the third quarter worth about $39,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Cintas by 2,525.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 105 shares of the business services provider’s stock worth $49,000 after acquiring an additional 101 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Cintas by 36.6% in the 4th quarter. First Horizon Advisors Inc. now owns 112 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 30 shares during the last quarter. ST Germain D J Co. Inc. acquired a new stake in shares of Cintas during the 4th quarter valued at approximately $51,000. Finally, Sugarloaf Wealth Management LLC bought a new position in Cintas during the first quarter worth $55,000. 62.26% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of CTAS opened at $496.74 on Wednesday. Cintas Co. has a one year low of $370.93 and a one year high of $518.71. The firm has a market capitalization of $50.54 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 3.28 and a beta of 1.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.98 and a current ratio of 2.39. The stock’s fifty day moving average is $496.10 and its 200-day moving average is $472.08.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, July 13th. The business services provider reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.14. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. Cintas had a net margin of 15.29% and a return on equity of 38.09%. Cintas’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.81 earnings per share. Equities analysts anticipate that Cintas Co. will post 14.18 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $5.40 dividend on an annualized basis and a yield of 1.09%. This is an increase from Cintas’s previous quarterly dividend of $1.15. Cintas’s dividend payout ratio is currently 41.60%.

Insider Activity at Cintas

In other news, CAO Michael Lawrence Thompson sold 5,050 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $498.35, for a total transaction of $2,516,667.50. Following the transaction, the chief accounting officer now owns 27,326 shares in the company, valued at approximately $13,617,912.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Michael Lawrence Thompson sold 5,050 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $498.35, for a total transaction of $2,516,667.50. Following the completion of the sale, the chief accounting officer now owns 27,326 shares in the company, valued at approximately $13,617,912.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 2,084 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $516.86, for a total value of $1,077,136.24. Following the transaction, the director now directly owns 11,001 shares in the company, valued at approximately $5,685,976.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,820 shares of company stock valued at $4,926,731. 15.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTAS. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cintas from $524.00 to $542.00 in a report on Monday, July 10th. JPMorgan Chase & Co. raised their target price on shares of Cintas from $510.00 to $540.00 in a report on Friday, July 14th. Morgan Stanley upped their target price on Cintas from $419.00 to $441.00 and gave the company an “equal weight” rating in a report on Friday, July 14th. UBS Group raised their price target on Cintas from $550.00 to $575.00 in a report on Friday, July 14th. Finally, Stifel Nicolaus upped their price objective on Cintas from $512.00 to $521.00 in a research note on Friday, July 14th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Cintas presently has an average rating of “Moderate Buy” and an average target price of $524.00.

About Cintas

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.