Parr Mcknight Wealth Management Group LLC Invests $2.58 Million in Cintas Co. (NASDAQ:CTAS)

Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,141 shares of the business services provider's stock, valued at approximately $2,584,000.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after acquiring an additional 219,809 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after purchasing an additional 296,059 shares in the last quarter. Norges Bank acquired a new position in Cintas during the fourth quarter worth $877,216,000. Northern Trust Corp boosted its holdings in Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after purchasing an additional 472,069 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after purchasing an additional 115,268 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling

In other news, COO Jim Rozakis sold 2,000 shares of the firm'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 sale, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their position. The transaction 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 Cintas 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 sale, the director now directly 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 disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Stock Performance

CTAS traded up $0.63 during trading hours on Monday, reaching $222.29. The company's stock had a trading volume of 1,296,286 shares, compared to its average volume of 1,706,273. The company's 50-day moving average is $207.45 and its 200-day moving average is $205.07. Cintas Co. has a 52 week low of $164.93 and a 52 week high of $228.12. The firm has a market cap of $89.76 billion, a PE ratio of 53.60, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. 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 data 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 firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate 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 previous year, the company earned $3.84 earnings per share. On average, equities analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on CTAS. Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research report on Thursday, May 1st. Morgan Stanley raised their price target on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company upped their price objective on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $213.88.

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.