Versant Capital Management Inc Has $440,000 Stake in Cintas Co. (NASDAQ:CTAS)

Versant Capital Management Inc raised its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 110.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,140 shares of the business services provider's stock after acquiring an additional 1,123 shares during the period. Versant Capital Management Inc's holdings in Cintas were worth $440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC acquired a new position in Cintas in the 4th quarter valued at $29,000. IAG Wealth Partners LLC raised its holdings in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after acquiring an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Cintas in the 4th quarter valued at $34,000. Meeder Asset Management Inc. raised its holdings in Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after acquiring an additional 134 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Cintas in the 4th quarter valued at $37,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 0.8%

Shares of Cintas stock traded up $1.86 during midday trading on Friday, reaching $226.61. The company had a trading volume of 2,393,633 shares, compared to its average volume of 1,697,585. The stock has a fifty day moving average price of $210.54 and a 200 day moving average price of $205.22. 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 firm has a market cap of $91.50 billion, a PE ratio of 54.64, a P/E/G ratio of 3.98 and a beta of 1.09. Cintas Co. has a fifty-two week low of $167.71 and a fifty-two week high of $228.12.

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, topping analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.84 earnings per share. On average, equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

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

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value 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. This trade 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 insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley upped their price objective on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Citigroup started coverage on Cintas in a research report on Monday, February 24th. They issued a "sell" rating and a $161.00 target price on the stock. Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. The Goldman Sachs Group lifted their target price on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, UBS Group lifted their target price on Cintas from $218.00 to $240.00 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 assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $213.88.

Cintas Company 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.