Baker Tilly Wealth Management LLC Raises Stake in Cintas Co. (NASDAQ:CTAS)

Baker Tilly Wealth Management LLC increased its stake in shares of Cintas Co. (NASDAQ:CTASGet Rating) by 10.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,130 shares of the business services provider’s stock after purchasing an additional 291 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Cintas were worth $1,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CTAS. EP Wealth Advisors LLC lifted its holdings in Cintas by 1,574.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 426,147 shares of the business services provider’s stock worth $8,345,000 after purchasing an additional 400,699 shares in the last quarter. Impax Asset Management Group plc bought a new position in Cintas in the 3rd quarter worth about $88,494,000. Renaissance Technologies LLC bought a new position in Cintas in the 3rd quarter worth about $64,966,000. Bank of New York Mellon Corp increased its stake in Cintas by 17.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 868,955 shares of the business services provider’s stock worth $330,776,000 after acquiring an additional 130,388 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Cintas by 12.5% in the 3rd quarter. American Century Companies Inc. now owns 1,093,951 shares of the business services provider’s stock worth $416,424,000 after acquiring an additional 121,180 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ CTAS opened at $410.70 on Friday. Cintas Co. has a fifty-two week low of $338.00 and a fifty-two week high of $461.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.02. The stock has a 50 day simple moving average of $400.38 and a two-hundred day simple moving average of $412.12. The stock has a market cap of $42.02 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 3.47 and a beta of 1.53.

Cintas (NASDAQ:CTASGet Rating) last released its quarterly earnings data on Wednesday, March 23rd. The business services provider reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.53. Cintas had a return on equity of 34.05% and a net margin of 15.88%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the business posted $2.37 EPS. The business’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts predict that Cintas Co. will post 11.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, May 13th. Cintas’s payout ratio is presently 33.60%.

In related news, CAO Michael Lawrence Thompson sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $423.24, for a total transaction of $5,290,500.00. Following the completion of the transaction, the chief accounting officer now owns 28,933 shares of the company’s stock, valued at approximately $12,245,602.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO J. Michael Hansen sold 8,200 shares of Cintas stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $424.23, for a total value of $3,478,686.00. The disclosure for this sale can be found here. Company insiders own 14.90% of the company’s stock.

A number of equities analysts have weighed in on CTAS shares. Bank of America started coverage on Cintas in a research note on Friday, March 11th. They issued a “neutral” rating on the stock. Morgan Stanley reduced their price objective on Cintas from $416.00 to $389.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 24th. Deutsche Bank Aktiengesellschaft began coverage on Cintas in a research report on Tuesday, March 29th. They set a “buy” rating and a $517.00 price objective on the stock. The Goldman Sachs Group increased their price objective on Cintas from $460.00 to $493.00 in a research report on Wednesday, March 23rd. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 28th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $451.40.

Cintas Profile (Get Rating)

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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