Three Cord True Wealth Management LLC Purchases New Position in Cintas Co. (NASDAQ:CTAS)

Three Cord True Wealth Management LLC acquired a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,228 shares of the business services provider's stock, valued at approximately $955,000. Cintas accounts for approximately 0.8% of Three Cord True Wealth Management LLC's investment portfolio, making the stock its 13th biggest position.

Several other large investors have also recently made changes to their positions in the business. Sound Income Strategies LLC purchased a new position in Cintas in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the fourth quarter valued at $29,000. IAG Wealth Partners LLC raised its stake in shares of Cintas by 136.8% in the fourth 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 period. Newbridge Financial Services Group Inc. purchased a new stake in Cintas during the fourth quarter valued at about $34,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Cintas by 239.3% during 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 in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This 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 this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction on Monday, April 7th. The stock was 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 directly owns 256,528 shares in the company, valued at approximately $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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTAS. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. The Goldman Sachs Group boosted their price objective on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Citigroup assumed coverage on shares of Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 price target for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a report on Thursday, March 27th. Finally, Wells Fargo & Company lifted their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $213.88.

Cintas Price Performance

CTAS stock traded down $0.22 during mid-day trading on Thursday, hitting $224.86. 306,101 shares of the stock were exchanged, compared to its average volume of 1,697,095. The business has a fifty day moving average price of $209.27 and a 200 day moving average price of $205.33. Cintas Co. has a 12 month low of $164.93 and a 12 month high of $228.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market capitalization of $90.79 billion, a price-to-earnings ratio of 54.18, a PEG ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $3.84 EPS. Cintas's quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas's payout ratio is 36.11%.

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.