Avanza Fonder AB Has $7.39 Million Position in Cintas Co. (NASDAQ:CTAS)

Avanza Fonder AB lowered its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,428 shares of the business services provider's stock after selling 1,611 shares during the period. Avanza Fonder AB's holdings in Cintas were worth $7,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MJP Associates Inc. ADV boosted its stake in shares of Cintas by 2.1% in the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after purchasing an additional 50 shares during the period. MGB Wealth Management LLC raised its holdings in shares of Cintas by 0.7% during the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock worth $1,328,000 after purchasing an additional 52 shares during the period. TIAA Trust National Association raised its holdings in shares of Cintas by 1.0% during the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after purchasing an additional 52 shares during the period. Wellspring Financial Advisors LLC raised its holdings in shares of Cintas by 4.6% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after purchasing an additional 52 shares during the period. Finally, Johnson Financial Group Inc. increased its holdings in shares of Cintas by 7.7% in the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock worth $146,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of analyst reports. Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 price objective on the stock. Truist Financial raised 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 report on Wednesday, April 16th. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 target price (up from $215.00) on shares of Cintas in a report on Monday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $215.81.

Cintas Price Performance

NASDAQ CTAS traded down $1.59 on Friday, hitting $221.98. 1,252,851 shares of the company were exchanged, compared to its average volume of 1,704,159. The firm has a 50 day moving average of $214.67 and a two-hundred day moving average of $205.70. The company has a market cap of $89.63 billion, a P/E ratio of 53.52, a P/E/G ratio of 3.98 and a beta of 1.08. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1-year low of $171.26 and a 1-year high of $229.24.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.84 EPS. On average, equities analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

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

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction 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 transaction, the director now owns 27,029 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the 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 transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate 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.