Cushing Capital Partners LLC bought a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,242 shares of the business services provider's stock, valued at approximately $1,077,000.
Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after acquiring an additional 108 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Cintas by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after purchasing an additional 3,504 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Cintas by 71.7% in the fourth quarter. Principal Securities Inc. now owns 9,836 shares of the business services provider's stock worth $1,797,000 after purchasing an additional 4,107 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Cintas by 3.4% during the fourth quarter. Allworth Financial LP now owns 5,800 shares of the business services provider's stock valued at $1,154,000 after purchasing an additional 192 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Cintas by 20.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 7,137 shares of the business services provider's stock valued at $1,304,000 after purchasing an additional 1,209 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Cintas
In related news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction 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 sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.
Cintas Stock Performance
NASDAQ CTAS opened at $221.32 on Wednesday. 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 Corporation has a twelve month low of $172.20 and a twelve month high of $229.24. The business has a 50-day moving average price of $216.30 and a 200-day moving average price of $205.50. The firm has a market cap of $89.37 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 3.47 and a beta of 1.07.
Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data 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. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm posted $3.84 EPS. The company's revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.
Cintas Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date was Thursday, May 15th. Cintas's payout ratio is currently 36.11%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Truist Financial lifted their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group boosted their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Robert W. Baird increased their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Three equities 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $215.81.
Check Out Our Latest Stock Analysis on CTAS
About Cintas
(
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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