Teza Capital Management LLC Takes Position in Cintas Co. (NASDAQ:CTAS)

Teza Capital Management LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 27,079 shares of the business services provider's stock, valued at approximately $4,947,000. Cintas accounts for 0.7% of Teza Capital Management LLC's holdings, making the stock its 17th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTAS. Norges Bank bought a new position in shares of Cintas in the 4th quarter worth $877,216,000. JPMorgan Chase & Co. raised its holdings in Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Winslow Capital Management LLC acquired a new position in Cintas during the fourth quarter worth $196,057,000. Barclays PLC lifted its stake in shares of Cintas by 340.1% in the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock valued at $224,312,000 after buying an additional 841,952 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Cintas during the fourth quarter valued at about $96,282,000. Institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

CTAS stock traded down $0.16 during mid-day trading on Tuesday, hitting $222.87. The company had a trading volume of 1,400,297 shares, compared to its average volume of 1,707,799. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market cap of $89.99 billion, a PE ratio of 53.74, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. Cintas Co. has a 12 month low of $164.93 and a 12 month high of $228.12. The stock's fifty day moving average price is $205.78 and its two-hundred day moving average price is $204.95.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the previous year, the firm posted $3.84 EPS. Cintas's revenue was up 8.4% on a year-over-year basis. On average, analysts forecast 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 will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas's payout ratio is 36.11%.

Insider Transactions 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 value 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 approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of Cintas 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 completion of the transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This 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.

Analyst Ratings Changes

CTAS has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Robert W. Baird boosted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Wells Fargo & Company upped their price target on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Finally, Truist Financial increased their price target on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $213.88.

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.