Rossby Financial LCC Makes New $267,000 Investment in Cintas Co. (NASDAQ:CTAS)

Rossby Financial LCC purchased a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,460 shares of the business services provider’s stock, valued at approximately $267,000.

A number of other hedge funds also recently modified their holdings of CTAS. Sound Income Strategies LLC bought a new position in Cintas in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new position in Cintas during the 4th quarter worth about $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the 4th quarter valued at about $31,000. IAG Wealth Partners LLC lifted its holdings in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Cintas during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTAS shares. Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target for the company. The Goldman Sachs Group lifted their price target on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Finally, Morgan Stanley upped their price objective on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $213.62.

Insider Buying and Selling at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.00% of the company’s stock.

Cintas Stock Up 1.7 %

Cintas stock opened at $209.62 on Tuesday. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The stock has a market cap of $84.64 billion, a P/E ratio of 50.54, a P/E/G ratio of 3.98 and a beta of 1.20. The company’s 50-day moving average price is $201.25 and its two-hundred day moving average price is $204.28. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period last year, the firm posted $3.84 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, May 15th. Cintas’s dividend payout ratio (DPR) is 36.11%.

Cintas Profile

Cintas Corporation engages in the provision of 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.