Cintas Co. (CTAS) Shares Bought by TD Asset Management Inc.

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TD Asset Management Inc. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 20.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,388 shares of the business services provider’s stock after buying an additional 13,670 shares during the quarter. TD Asset Management Inc.’s holdings in Cintas were worth $16,449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTAS. Lunia Capital LP purchased a new stake in shares of Cintas during the fourth quarter valued at $15,696,000. Norges Bank purchased a new stake in shares of Cintas during the fourth quarter valued at $140,888,000. American Century Companies Inc. grew its holdings in shares of Cintas by 97.6% during the fourth quarter. American Century Companies Inc. now owns 1,172,508 shares of the business services provider’s stock valued at $196,970,000 after buying an additional 579,155 shares during the last quarter. Waratah Capital Advisors Ltd. purchased a new stake in shares of Cintas during the fourth quarter valued at $40,285,000. Finally, Brown Advisory Inc. grew its holdings in shares of Cintas by 13.7% during the fourth quarter. Brown Advisory Inc. now owns 1,894,686 shares of the business services provider’s stock valued at $318,289,000 after buying an additional 228,596 shares during the last quarter. 67.40% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CTAS opened at $222.50 on Friday. Cintas Co. has a one year low of $155.98 and a one year high of $227.64. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.89 and a current ratio of 2.24. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, March 21st. The business services provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. Cintas had a net margin of 12.44% and a return on equity of 25.85%. The company had revenue of $1.68 million for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s revenue was down 99.9% on a year-over-year basis. Sell-side analysts anticipate that Cintas Co. will post 7.46 earnings per share for the current year.

In other news, VP Thomas E. Frooman sold 2,415 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $207.81, for a total transaction of $501,861.15. Following the sale, the vice president now directly owns 122,251 shares of the company’s stock, valued at approximately $25,404,980.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph Scaminace sold 6,255 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the sale, the director now directly owns 7,973 shares in the company, valued at $1,771,600.60. The disclosure for this sale can be found here. 19.10% of the stock is currently owned by corporate insiders.

CTAS has been the topic of a number of research analyst reports. ValuEngine raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Monday, February 4th. BidaskClub lowered shares of Cintas from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Zacks Investment Research lowered shares of Cintas from a “hold” rating to a “sell” rating in a report on Monday, March 11th. JPMorgan Chase & Co. boosted their price objective on shares of Cintas from $210.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, Morgan Stanley upped their price target on shares of Cintas from $163.00 to $172.00 and gave the company an “underweight” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Cintas has an average rating of “Buy” and a consensus target price of $200.05.

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About Cintas

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

Further Reading: Buyback

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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