Investment Management Corp VA ADV Buys Shares of 2,553 Cintas Co. (NASDAQ:CTAS)

Investment Management Corp VA ADV purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,553 shares of the business services provider's stock, valued at approximately $466,000.

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC bought a new stake in Cintas in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the 4th quarter valued at $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas during the fourth quarter worth $31,000. IAG Wealth Partners LLC raised its stake in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Cintas during the fourth quarter worth $34,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several research analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 target price on shares of Cintas 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 stock a "buy" rating in a research report on Thursday, March 27th. Argus raised Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Truist Financial raised their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $213.88.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 27,029 shares in the company, valued at $5,647,979.84. This trade 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 available through this link. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares of the company's stock, 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. 15.00% of the stock is owned by corporate insiders.

Cintas Stock Performance

CTAS traded up $0.10 during trading on Wednesday, hitting $225.98. 265,314 shares of the company traded hands, compared to its average volume of 1,700,192. Cintas Co. has a one year low of $164.93 and a one year high of $228.12. The stock's fifty day moving average is $208.60 and its 200 day moving average is $205.19. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market cap of $91.25 billion, a P/E ratio of 54.48, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

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

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is 36.11%.

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.