Capital Asset Advisory Services LLC Purchases 3,284 Shares of Cintas Co. (NASDAQ:CTAS)

Capital Asset Advisory Services LLC boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 29.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,510 shares of the business services provider's stock after buying an additional 3,284 shares during the period. Capital Asset Advisory Services LLC's holdings in Cintas were worth $3,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CTAS. Norges Bank acquired a new position in Cintas during the fourth quarter valued at $877,216,000. GAMMA Investing LLC grew its stake in Cintas by 19,644.3% in the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock valued at $465,133,000 after purchasing an additional 2,251,629 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Winslow Capital Management LLC purchased a new position in Cintas in the fourth quarter valued at about $196,057,000. Finally, Raymond James Financial Inc. purchased a new position in Cintas in the fourth quarter valued at about $96,282,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

NASDAQ:CTAS traded down $0.21 during mid-day trading on Wednesday, hitting $227.37. 1,302,813 shares of the company's stock traded hands, compared to its average volume of 1,692,505. The firm has a 50 day moving average of $211.41 and a two-hundred day moving average of $205.37. 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 firm has a market capitalization of $91.81 billion, a price-to-earnings ratio of 54.82, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. Cintas Co. has a 12 month low of $168.11 and a 12 month high of $228.65.

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

Cintas Announces Dividend

The firm 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 dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Analyst Ratings Changes

A number of research analysts have commented on CTAS shares. Bank of America started coverage on Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Truist Financial upped their price target on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Morgan Stanley upped their price target on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Robert W. Baird upped their price target on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Finally, Argus upgraded Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $213.88.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through this link. 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 value of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares in the company, 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. Insiders own 15.00% of the company's stock.

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.