McElhenny Sheffield Capital Management LLC Acquires New Position in Cintas Co. (NASDAQ:CTAS)

McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,299 shares of the business services provider's stock, valued at approximately $473,000.

A number of other hedge funds also recently bought and sold shares of CTAS. Brighton Jones LLC increased its position in Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after acquiring an additional 108 shares during the last quarter. Empowered Funds LLC increased its position in Cintas by 29.5% during the fourth quarter. Empowered Funds LLC now owns 24,634 shares of the business services provider's stock valued at $4,501,000 after acquiring an additional 5,606 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in Cintas by 4.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 12,137 shares of the business services provider's stock valued at $2,217,000 after acquiring an additional 565 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Cintas during the fourth quarter valued at $34,000. Finally, Savant Capital LLC increased its position in Cintas by 5.6% during the fourth quarter. Savant Capital LLC now owns 11,625 shares of the business services provider's stock valued at $2,124,000 after acquiring an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of analyst reports. Truist Financial boosted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 price target (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 price target on the stock. UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Bank of America started coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Cintas has a consensus rating of "Hold" and a consensus price target of $215.81.

Cintas Stock Down 0.7%

Cintas stock traded down $1.59 during midday trading on Friday, hitting $221.98. 1,252,851 shares of the company's stock were exchanged, compared to its average volume of 1,707,350. The company has a market cap of $89.63 billion, a PE ratio of 53.52, a P/E/G ratio of 3.98 and a beta of 1.08. The firm has a 50-day moving average of $215.30 and a two-hundred day moving average of $205.54. Cintas Co. has a 12 month low of $172.20 and a 12 month high of $229.24. 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 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 business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.84 earnings per share. As a group, analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Thursday, May 15th. Cintas's payout ratio is 36.11%.

Insider Buying and Selling at Cintas

In related news, 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 completion of the transaction, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. This trade represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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.