Cintas Corporation (NASDAQ:CTAS) Stake Boosted by Spire Wealth Management

Spire Wealth Management raised its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 14.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,697 shares of the business services provider's stock after purchasing an additional 1,198 shares during the period. Spire Wealth Management's holdings in Cintas were worth $1,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Cyrus J. Lawrence LLC acquired a new position in Cintas during the 4th quarter valued at about $29,000. IAG Wealth Partners LLC lifted 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 worth $33,000 after acquiring an additional 104 shares during the period. Meeder Asset Management Inc. lifted its stake 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 worth $35,000 after acquiring an additional 134 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Cintas in the 4th quarter worth approximately $37,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Cintas in the 4th quarter worth approximately $40,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 0.1%

NASDAQ CTAS traded up $0.31 on Friday, hitting $220.75. 1,565,480 shares of the stock were exchanged, compared to its average volume of 1,699,282. The company's 50-day moving average price is $218.34 and its two-hundred day moving average price is $205.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. 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 price-to-earnings ratio of 51.13, a P/E/G ratio of 3.42 and a beta of 1.07.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 41.30% and a net margin of 17.53%. Cintas's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.84 earnings per share. Research analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. Cintas's payout ratio is presently 36.11%.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm's 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 sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the business'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 transaction of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CTAS shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 price target (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research note on Thursday, May 1st. Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Finally, Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $215.81.

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.