Luken Investment Analytics LLC lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,720 shares of the business services provider's stock after selling 1,500 shares during the period. Cintas makes up about 0.7% of Luken Investment Analytics LLC's portfolio, making the stock its 19th biggest position. Luken Investment Analytics LLC's holdings in Cintas were worth $1,587,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of CTAS. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas during the fourth quarter worth $29,000. IAG Wealth Partners LLC raised its stake in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Meeder Asset Management Inc. raised its stake in 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 acquiring an additional 134 shares during the last quarter. OFI Invest Asset Management purchased a new position in Cintas in the 4th quarter worth $37,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Cintas during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 63.46% of the company's stock.
Insider Buying and Selling
In other news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was 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. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents 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 insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on CTAS shares. UBS Group increased their price objective on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Morgan Stanley upped their target price on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 price objective for the company. Finally, Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cintas presently has an average rating of "Hold" and an average target price of $215.81.
Check Out Our Latest Stock Report on CTAS
Cintas Price Performance
NASDAQ:CTAS opened at $220.42 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The company has a 50 day moving average price of $216.63 and a 200-day moving average price of $205.61. Cintas Corporation has a 1-year low of $172.20 and a 1-year high of $229.24. The firm has a market cap of $89.00 billion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 3.45 and a beta of 1.07.
Cintas (NASDAQ:CTAS - Get Free Report) last released 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 company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $3.84 earnings per share. Equities research analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.
Cintas Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. Cintas's payout ratio is 36.11%.
Cintas Company Profile
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Free Report)
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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