Asset Management One Co. Ltd. Purchases 13,930 Shares of Cintas Corporation (NASDAQ:CTAS)

Asset Management One Co. Ltd. lifted its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 185,586 shares of the business services provider's stock after buying an additional 13,930 shares during the period. Asset Management One Co. Ltd.'s holdings in Cintas were worth $38,143,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas in the 4th quarter valued at $29,000. IAG Wealth Partners LLC boosted its position in Cintas by 136.8% in 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 during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after acquiring an additional 134 shares during the period. OFI Invest Asset Management bought a new position in Cintas in the fourth quarter valued at about $37,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Cintas during the 4th quarter worth $40,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CTAS. The Goldman Sachs Group lifted their price objective on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Truist Financial lifted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Finally, Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective for the company. Three research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of "Hold" and a consensus target price of $215.81.

Cintas Stock Performance

NASDAQ CTAS opened at $223.20 on Wednesday. Cintas Corporation has a 12-month low of $172.20 and a 12-month high of $229.24. The firm has a 50-day moving average price of $217.76 and a two-hundred day moving average price of $205.42. The company has a market capitalization of $90.13 billion, a P/E ratio of 51.70, a P/E/G ratio of 3.45 and a beta of 1.07. 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 (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the company posted $3.84 EPS. The company's revenue was up 8.4% compared to the same quarter last year. Analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were given a $0.39 dividend. 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 payout ratio is presently 36.11%.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% 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 insiders.

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.

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