Balyasny Asset Management L.P. Grows Stake in Cintas Co. (NASDAQ:CTAS)

Balyasny Asset Management L.P. boosted its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 288.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 210,275 shares of the business services provider's stock after purchasing an additional 156,113 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.05% of Cintas worth $38,417,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its holdings in Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider's stock valued at $1,199,000 after acquiring an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC increased its stake in shares of Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider's stock worth $2,109,000 after purchasing an additional 6,341 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Annex Advisory Services LLC lifted its stake in Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider's stock valued at $23,283,000 after buying an additional 1,988 shares in the last quarter. Finally, LVM Capital Management Ltd. MI grew its holdings in Cintas by 292.7% during the 4th quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider's stock valued at $1,002,000 after buying an additional 4,086 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Price Performance

Cintas stock opened at $211.82 on Tuesday. The firm has a fifty day moving average of $202.21 and a 200-day moving average of $204.26. Cintas Co. has a 52-week low of $164.93 and a 52-week high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $85.53 billion, a P/E ratio of 51.07, a PEG ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data 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 return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the company posted $3.84 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. As a group, analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

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 given 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%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price 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. Morgan Stanley upped 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. Robert W. Baird boosted their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Truist Financial raised their price objective on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $213.88.

Insider Transactions at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Cintas Company 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.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.