Ritholtz Wealth Management Buys 1,363 Shares of Cintas Corporation (NASDAQ:CTAS)

Ritholtz Wealth Management lifted its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,147 shares of the business services provider's stock after purchasing an additional 1,363 shares during the quarter. Ritholtz Wealth Management's holdings in Cintas were worth $5,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas in the fourth quarter worth approximately $29,000. IAG Wealth Partners LLC grew its stake 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 in the last quarter. Meeder Asset Management Inc. lifted its stake in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after acquiring an additional 134 shares during the last quarter. OFI Invest Asset Management bought a new stake in Cintas in the fourth quarter worth approximately $37,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Cintas during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CTAS. Truist Financial lifted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Bank of America started coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price on the stock. Robert W. Baird upped their price target on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. UBS Group increased their price objective on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Argus upgraded Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $215.81.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was 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 approximately $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

Cintas Stock Performance

Shares of CTAS stock traded down $1.07 during trading hours on Wednesday, reaching $220.25. 1,277,844 shares of the company's stock were exchanged, compared to its average volume of 1,703,345. Cintas Corporation has a fifty-two week low of $172.20 and a fifty-two week high of $229.24. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $88.94 billion, a P/E ratio of 51.01, a P/E/G ratio of 3.47 and a beta of 1.07. The business has a fifty day moving average price of $216.30 and a 200-day moving average price of $205.50.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.60 billion. During the same quarter in the previous year, the firm posted $3.84 earnings per share. Cintas's revenue was up 8.4% compared to the same quarter last year. Analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

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.