Rafferty Asset Management LLC Has $18.41 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Rafferty Asset Management LLC boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,767 shares of the business services provider's stock after purchasing an additional 14,551 shares during the period. Rafferty Asset Management LLC's holdings in Cintas were worth $18,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its holdings in shares of Cintas by 26.7% during the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after acquiring an additional 468,950 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cintas by 28.4% during the fourth 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 during the period. KMG Fiduciary Partners LLC raised its holdings in shares of Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider's stock valued at $2,109,000 after acquiring an additional 6,341 shares during the period. JPMorgan Chase & Co. increased its stake in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after buying an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC lifted its position 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 worth $23,283,000 after buying an additional 1,988 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS traded up $2.18 during trading hours on Monday, reaching $223.03. 1,137,063 shares of the company traded hands, compared to its average volume of 1,705,302. The stock's fifty day moving average is $204.52 and its 200 day moving average is $204.70. The stock has a market cap of $90.06 billion, a P/E ratio of 53.77, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 1-year low of $164.93 and a 1-year high of $228.12.

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

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Insider Activity

In related news, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction dated 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 $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTAS. Truist Financial boosted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research note on Thursday, May 1st. The Goldman Sachs Group lifted their price objective 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. Finally, Robert W. Baird boosted their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $213.88.

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.