Adage Capital Partners GP L.L.C. Has $51.19 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Adage Capital Partners GP L.L.C. decreased its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 280,205 shares of the business services provider's stock after selling 41,795 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.07% of Cintas worth $51,193,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Barclays PLC boosted its stake in shares of Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock valued at $224,312,000 after purchasing an additional 841,952 shares during the period. Virtu Financial LLC grew its stake in Cintas by 168.1% in the third quarter. Virtu Financial LLC now owns 14,468 shares of the business services provider's stock worth $2,979,000 after purchasing an additional 9,072 shares in the last quarter. Morse Asset Management Inc raised its position in Cintas by 299.8% during the 3rd quarter. Morse Asset Management Inc now owns 21,229 shares of the business services provider's stock valued at $4,371,000 after purchasing an additional 15,919 shares in the last quarter. Wealthquest Corp lifted its holdings in shares of Cintas by 285.9% in the 3rd quarter. Wealthquest Corp now owns 14,848 shares of the business services provider's stock worth $3,027,000 after buying an additional 11,000 shares during the period. Finally, Anchor Investment Management LLC increased its stake in shares of Cintas by 299.7% during the third quarter. Anchor Investment Management LLC now owns 2,294 shares of the business services provider's stock valued at $472,000 after buying an additional 1,720 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of analyst reports. Argus raised Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. The Goldman Sachs Group increased their price objective on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $213.62.

Insider Activity

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction 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 completion of the transaction, the director now owns 27,029 shares of the company's stock, valued at $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 Stock Down 0.2 %

Shares of NASDAQ CTAS traded down $0.45 on Wednesday, hitting $208.81. The company had a trading volume of 277,523 shares, compared to its average volume of 1,693,047. The business has a 50 day moving average of $201.68 and a two-hundred day moving average of $204.36. The firm has a market capitalization of $84.31 billion, a P/E ratio of 50.35, a PEG ratio of 3.98 and a beta of 1.20. 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 Co. has a 12-month low of $162.16 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (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 firm had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the prior year, the company posted $3.84 earnings per share. The firm's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, May 15th. Cintas's payout ratio 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.