Sagespring Wealth Partners LLC Makes New $449,000 Investment in Cintas Co. (NASDAQ:CTAS)

Sagespring Wealth Partners LLC purchased a new stake in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,459 shares of the business services provider’s stock, valued at approximately $449,000.

A number of other hedge funds have also modified their holdings of CTAS. Sound Income Strategies LLC purchased a new position in Cintas during the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Cintas during the 4th quarter worth approximately $29,000. Endeavor Private Wealth Inc. acquired a new stake in Cintas in the 4th quarter valued at approximately $31,000. IAG Wealth Partners LLC raised its position in 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 during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Cintas during the fourth quarter worth $34,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Down 0.7 %

NASDAQ:CTAS opened at $208.20 on Wednesday. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The stock has a market cap of $84.07 billion, a P/E ratio of 50.20, a P/E/G ratio of 3.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a 50-day simple moving average of $201.32 and a 200-day simple moving average of $204.31.

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

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s payout ratio is 36.11%.

Analysts Set New Price Targets

CTAS has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Morgan Stanley raised their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Bank of America began coverage on shares of Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Citigroup assumed coverage on shares of Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $213.62.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following 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 SEC, which is available through this link. Insiders own 15.00% of the company’s stock.

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.