Argentarii LLC Grows Stock Holdings in Cintas Corporation (NASDAQ:CTAS)

Argentarii LLC increased its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,327 shares of the business services provider's stock after acquiring an additional 2,259 shares during the quarter. Argentarii LLC's holdings in Cintas were worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CTAS. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas during the 4th quarter valued at $29,000. IAG Wealth Partners LLC grew 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 purchasing an additional 104 shares during the period. Meeder Asset Management Inc. increased its stake in shares of 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 purchasing an additional 134 shares in the last quarter. OFI Invest Asset Management purchased a new position in Cintas during the fourth quarter valued at approximately $37,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Cintas in the fourth quarter worth about $40,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price objective (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Bank of America began coverage on Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target for the company. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research note on Thursday, May 1st. The Goldman Sachs Group lifted their target price on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Truist Financial boosted their target price on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $219.58.

Insider Buying and Selling

In other 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 transaction of $1,780,548.16. Following the completion of the sale, the director owned 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.00% of the stock is owned by company insiders.

Cintas Price Performance

CTAS traded down $1.78 during trading on Monday, reaching $217.58. The company's stock had a trading volume of 348,240 shares, compared to its average volume of 1,665,424. The company has a market cap of $87.86 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 3.42 and a beta of 1.05. The firm has a fifty day simple moving average of $220.01 and a two-hundred day simple moving average of $206.16. Cintas Corporation has a 1 year low of $176.60 and a 1 year high of $229.24. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Thursday, May 15th. Cintas's dividend payout ratio is currently 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.