Park Place Capital Corp Has $80,000 Holdings in Cintas Corporation (NASDAQ:CTAS)

Park Place Capital Corp lessened its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 83.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 390 shares of the business services provider's stock after selling 1,958 shares during the quarter. Park Place Capital Corp's holdings in Cintas were worth $80,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas in the 4th quarter valued at approximately $29,000. IAG Wealth Partners LLC boosted its holdings in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after buying an additional 104 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after buying an additional 134 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Cintas in the 4th quarter valued at approximately $37,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price objective (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Truist Financial increased 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. Morgan Stanley increased their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Finally, Bank of America began coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $215.81.

Cintas Trading Up 0.1%

CTAS stock opened at $220.75 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The company's 50-day simple moving average is $218.64 and its 200 day simple moving average is $205.67. Cintas Corporation has a 52 week low of $172.20 and a 52 week high of $229.24. The company has a market capitalization of $89.14 billion, a PE ratio of 51.13, a price-to-earnings-growth ratio of 3.44 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. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the company posted $3.84 earnings per share. Cintas's revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated 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 sale, the director now 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 disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

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.

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