BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 8,551 Shares of Cintas Co. (NASDAQ:CTAS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,505 shares of the business services provider's stock after purchasing an additional 8,551 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Cintas were worth $12,699,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CTAS. Ameriprise Financial Inc. lifted its position in shares of Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after acquiring an additional 468,950 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider's stock valued at $1,199,000 after purchasing an additional 1,450 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Cintas by 137.5% during 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 during the period. Alpine Global Management LLC bought a new position in shares of Cintas during the 4th quarter worth about $284,000. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of Cintas by 1,177.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 21,314 shares of the business services provider's stock valued at $3,894,000 after buying an additional 19,646 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Down 0.0%

NASDAQ:CTAS traded down $0.01 during midday trading on Wednesday, reaching $225.87. 235,969 shares of the stock traded hands, compared to its average volume of 1,700,088. The company has a fifty day moving average of $208.60 and a 200 day moving average of $205.19. Cintas Co. has a 12 month low of $164.93 and a 12 month high of $228.12. The stock has a market capitalization of $91.20 billion, a P/E ratio of 54.46, a PEG ratio of 3.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.84 earnings per share. On average, research analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's payout ratio is currently 36.11%.

Insiders Place Their Bets

In other news, COO Jim Rozakis sold 2,000 shares of the company'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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas 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 completion of the sale, the director now directly owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. Argus raised Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. Finally, 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 note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $213.88.

Cintas 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.