Cintas Co. (NASDAQ:CTAS) Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 82.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,926 shares of the business services provider's stock after purchasing an additional 5,857 shares during the period. Kovitz Investment Group Partners LLC's holdings in Cintas were worth $2,362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new position in shares of Cintas in the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new position in Cintas in the fourth quarter valued at approximately $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC increased its stake in 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 purchasing an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Cintas during the fourth quarter worth approximately $34,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of Cintas stock traded up $2.00 during trading on Friday, reaching $211.55. The company's stock had a trading volume of 1,373,132 shares, compared to its average volume of 1,699,690. The business has a 50 day moving average price of $201.95 and a 200-day moving average price of $204.39. The company has a market capitalization of $85.42 billion, a P/E ratio of 51.01, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. 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 12-month low of $162.16 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly 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. The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.84 EPS. As a group, 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 issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Argus raised shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. UBS Group raised their price target on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Robert W. Baird increased their price objective on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Bank of America began coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cintas has an average rating of "Hold" and an average target price of $213.88.

Insider Activity

In related news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated 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 sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

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.