3,236 Shares in Cintas Corporation (NASDAQ:CTAS) Purchased by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC acquired a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,236 shares of the business services provider's stock, valued at approximately $665,000.

Other hedge funds also recently bought and sold shares of the company. Cyrus J. Lawrence LLC bought a new position in shares of Cintas in the fourth quarter worth approximately $29,000. IAG Wealth Partners LLC lifted its stake in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after buying an additional 104 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after buying an additional 134 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Cintas in the 4th quarter worth $37,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Up 0.1%

NASDAQ:CTAS traded up $0.31 during trading hours on Friday, reaching $220.75. The company's stock had a trading volume of 1,565,480 shares, compared to its average volume of 1,666,003. The company has a market capitalization of $89.14 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 3.44 and a beta of 1.07. Cintas Corporation has a 12 month low of $172.20 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The stock has a 50 day moving average price of $218.64 and a two-hundred day moving average price of $205.63.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the firm posted $3.84 earnings per share. Cintas's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas's dividend payout ratio (DPR) is 36.11%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 price target (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Truist Financial raised their price target on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target on the stock. Morgan Stanley raised their price target on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company lifted their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $215.81.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

About Cintas

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.