Global Assets Advisory LLC Invests $462,000 in Cintas Corporation (NASDAQ:CTAS)

Global Assets Advisory LLC acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,305 shares of the business services provider's stock, valued at approximately $462,000.

Several other institutional investors and hedge funds have also made changes to their positions in CTAS. Cyrus J. Lawrence LLC acquired a new position in Cintas during the fourth quarter valued at $29,000. IAG Wealth Partners LLC lifted its position in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after purchasing an additional 104 shares during the period. Meeder Asset Management Inc. lifted its position in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares during the period. OFI Invest Asset Management acquired a new position in Cintas during the fourth quarter valued at $37,000. Finally, VSM Wealth Advisory LLC purchased a new position in Cintas in the fourth quarter valued at $40,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 1.8%

Shares of NASDAQ CTAS opened at $219.24 on Thursday. Cintas Corporation has a 12-month low of $172.20 and a 12-month high of $229.24. The stock has a market cap of $88.53 billion, a PE ratio of 50.78, a P/E/G ratio of 3.48 and a beta of 1.07. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $218.05 and a 200 day moving average of $205.51.

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 the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the prior year, the company earned $3.84 EPS. Cintas's revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas's payout ratio is 36.11%.

Insider Buying and Selling at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the company's 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 directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the company'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 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 disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CTAS shares. UBS Group upped their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research note on Thursday, May 1st. Truist Financial boosted their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 target price (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of "Hold" and an average price target of $215.81.

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.

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