Tounjian Advisory Partners LLC Purchases New Stake in Cintas Co. (NASDAQ:CTAS)

Tounjian Advisory Partners LLC acquired a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,706 shares of the business services provider's stock, valued at approximately $967,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTAS. Norges Bank acquired a new position in Cintas during the fourth quarter worth $877,216,000. GAMMA Investing LLC increased its position in shares of Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after acquiring an additional 2,251,629 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Cintas in the 4th quarter worth about $196,057,000. Raymond James Financial Inc. acquired a new stake in shares of Cintas in the 4th quarter worth about $96,282,000. Finally, Northern Trust Corp lifted its position in Cintas by 13.1% in the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after acquiring an additional 472,069 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling

In related news, 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 directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of Cintas 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 sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at approximately $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.

Cintas Stock Performance

Shares of NASDAQ CTAS traded down $2.38 during midday trading on Tuesday, hitting $222.22. The company's stock had a trading volume of 2,099,729 shares, compared to its average volume of 1,696,662. The firm has a market capitalization of $89.73 billion, a price-to-earnings ratio of 53.58, a P/E/G ratio of 3.98 and a beta of 1.07. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $213.03 and a 200 day moving average price of $205.48. Cintas Co. has a one year low of $169.46 and a one year high of $229.24.

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

Cintas Dividend Announcement

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

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on Cintas from $215.00 to $240.00 and gave the company a "sector perform" rating in a report on Monday. Robert W. Baird upped their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Finally, Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $215.81.

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.