Verde Capital Management Has $2.70 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Verde Capital Management increased its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 69.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,129 shares of the business services provider's stock after acquiring an additional 5,361 shares during the period. Cintas makes up 0.8% of Verde Capital Management's portfolio, making the stock its 26th biggest position. Verde Capital Management's holdings in Cintas were worth $2,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Cintas by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after acquiring an additional 219,809 shares in the last quarter. Invesco Ltd. lifted its position in Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank bought a new position in Cintas during the 4th quarter valued at $877,216,000. Northern Trust Corp increased its position in shares of Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after purchasing an additional 472,069 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after purchasing an additional 115,268 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the 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 transaction, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Cintas Trading Up 0.1%

CTAS stock traded up $0.19 during mid-day trading on Monday, reaching $226.69. 1,094,560 shares of the stock traded hands, compared to its average volume of 1,695,326. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52-week low of $167.71 and a 52-week high of $228.18. The company has a market cap of $91.53 billion, a P/E ratio of 54.66, a P/E/G ratio of 3.98 and a beta of 1.09. The stock's fifty day moving average is $210.54 and its 200-day moving average is $205.13.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the firm earned $3.84 earnings per share. The business's quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas's dividend payout ratio is 36.11%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CTAS shares. Royal Bank of Canada restated a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a report 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. Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Argus raised shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Finally, UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.