Ewing Morris & Co. Investment Partners Ltd. Takes $2.07 Million Position in Cintas Co. (NASDAQ:CTAS)

Ewing Morris & Co. Investment Partners Ltd. acquired a new position in Cintas Co. (NASDAQ:CTAS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,324 shares of the business services provider's stock, valued at approximately $2,069,000.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. Sound Income Strategies LLC bought a new stake in shares of Cintas during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas during the fourth quarter valued at approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Cintas during the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC increased its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after acquiring an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas during the fourth quarter valued at approximately $34,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cintas

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTAS. Truist Financial boosted their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Citigroup assumed coverage on Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price target for the company. Argus upgraded Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Bank of America assumed coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cintas has a consensus rating of "Hold" and a consensus target price of $213.88.

Cintas Stock Down 0.1%

NASDAQ:CTAS traded down $0.17 during trading hours on Friday, reaching $214.79. 965,220 shares of the company traded hands, compared to its average volume of 1,701,465. The business's 50-day moving average price is $202.92 and its two-hundred day moving average price is $204.37. The stock has a market capitalization of $86.73 billion, a P/E ratio of 51.79, a P/E/G ratio of 3.98 and a beta of 1.09. Cintas Co. has a 1 year low of $164.93 and a 1 year high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (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 analysts' expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.84 earnings per share. Analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

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.