Waverly Advisors LLC Has $2.10 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Waverly Advisors LLC lifted its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 102.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,509 shares of the business services provider's stock after purchasing an additional 5,814 shares during the period. Waverly Advisors LLC's holdings in Cintas were worth $2,103,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC purchased a new stake in shares of Cintas in the 4th quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new position in Cintas in the fourth quarter valued at about $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Cintas in the 4th quarter valued at approximately $31,000. IAG Wealth Partners LLC increased its stake in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Cintas during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Up 0.0%

Shares of Cintas stock traded up $0.06 on Wednesday, hitting $225.94. 225,657 shares of the company's stock traded hands, compared to its average volume of 1,700,008. The stock has a market cap of $91.23 billion, a P/E ratio of 54.48, a PEG ratio of 3.98 and a beta of 1.09. The firm's 50-day moving average is $208.60 and its 200 day moving average is $205.19. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52-week low of $164.93 and a 52-week high of $228.12.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The firm 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%. Cintas's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.84 earnings per share. Equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

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

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated 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 owns 27,029 shares of the company's stock, valued at $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 is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction 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 transaction, the chief operating officer now directly owns 256,528 shares of the company's stock, 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. 15.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CTAS shares. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. UBS Group boosted their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Bank of America started coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective for the company. Finally, Wells Fargo & Company raised their price target on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $213.88.

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.