Appleton Partners Inc. MA Has $3.29 Million Stock Position in Cintas Corporation (NASDAQ:CTAS)

Appleton Partners Inc. MA increased its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 20.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,002 shares of the business services provider's stock after purchasing an additional 2,739 shares during the quarter. Appleton Partners Inc. MA's holdings in Cintas were worth $3,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after acquiring an additional 108 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in Cintas by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock valued at $93,969,000 after purchasing an additional 3,504 shares in the last quarter. Truist Financial Corp increased its holdings in Cintas by 11.8% during the 4th quarter. Truist Financial Corp now owns 42,238 shares of the business services provider's stock worth $7,717,000 after purchasing an additional 4,447 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Cintas in the 4th quarter valued at approximately $55,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Cintas during the 4th quarter valued at approximately $43,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cintas

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 firm's stock in a transaction that occurred on Monday, April 14th. The stock was 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 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 disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTAS. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday, March 27th. 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. The Goldman Sachs Group increased their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley upped their price objective on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Finally, Bank of America started coverage on Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $215.81.

Cintas Stock Performance

Shares of Cintas stock traded up $2.30 during trading on Tuesday, hitting $223.20. 1,461,079 shares of the stock were exchanged, compared to its average volume of 1,701,499. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. Cintas Corporation has a 12 month low of $172.20 and a 12 month high of $229.24. The stock's fifty day moving average is $217.46 and its 200 day moving average is $205.29. The stock has a market cap of $90.13 billion, a PE ratio of 51.70, a P/E/G ratio of 3.41 and a beta of 1.08.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.53% and a return on equity of 41.30%. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.84 EPS. As a group, sell-side analysts anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

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.