Twinbeech Capital LP Purchases New Shares in Cintas Co. (NASDAQ:CTAS)

Twinbeech Capital LP purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 246,335 shares of the business services provider's stock, valued at approximately $45,005,000. Twinbeech Capital LP owned 0.06% of Cintas as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. Barclays PLC grew its position in Cintas by 340.1% during 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 during the period. JPMorgan Chase & Co. lifted 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 valued at $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Brookstone Capital Management lifted its holdings in Cintas by 18.2% during the fourth quarter. Brookstone Capital Management now owns 1,278 shares of the business services provider's stock valued at $233,000 after purchasing an additional 197 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Cintas by 12.7% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 7,445 shares of the business services provider's stock valued at $1,360,000 after purchasing an additional 838 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in Cintas by 199.7% during the fourth quarter. Merit Financial Group LLC now owns 9,718 shares of the business services provider's stock valued at $1,775,000 after purchasing an additional 6,475 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CTAS shares. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Truist Financial increased their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. UBS Group increased their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Finally, Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $213.88.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction 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 in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,780,548.16. Following the transaction, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Trading Up 1.1%

Shares of CTAS stock opened at $220.85 on Monday. 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 stock has a market capitalization of $89.18 billion, a P/E ratio of 53.25, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company has a 50 day moving average price of $204.52 and a 200 day moving average price of $204.70. Cintas Co. has a fifty-two week low of $164.93 and a fifty-two week high of $228.12.

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 the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the previous year, the business posted $3.84 EPS. The firm's revenue was up 8.4% on a year-over-year basis. Equities research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal 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 $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas's dividend payout ratio (DPR) 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.

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