Logan Capital Management Inc. Has $23.78 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Logan Capital Management Inc. lowered its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,132 shares of the business services provider's stock after selling 11,249 shares during the quarter. Cintas comprises approximately 1.0% of Logan Capital Management Inc.'s holdings, making the stock its 23rd largest holding. Logan Capital Management Inc.'s holdings in Cintas were worth $23,775,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Sound Income Strategies LLC acquired a new position in shares of Cintas in the fourth quarter valued at $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Cintas in the 4th quarter valued at $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Cintas during the 4th quarter worth about $31,000. IAG Wealth Partners LLC lifted its holdings in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after acquiring an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Cintas during the 4th quarter valued at about $34,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTAS has been the subject of several recent research reports. Robert W. Baird increased their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. UBS Group upped their price objective on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Bank of America began coverage on Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target on the stock. Finally, Truist Financial upped their price target on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $213.88.

Cintas Price Performance

Shares of CTAS stock traded up $4.30 during trading hours on Thursday, hitting $218.49. 1,140,614 shares of the company's stock were exchanged, compared to its average volume of 1,703,898. The stock's 50-day moving average is $203.67 and its 200-day moving average is $204.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 52 week low of $164.93 and a 52 week high of $228.12. The stock has a market cap of $88.22 billion, a price-to-earnings ratio of 52.68, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS - Get Free Report) last issued 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the firm earned $3.84 EPS. The company's revenue was up 8.4% on a year-over-year basis. As a group, research analysts forecast that Cintas Co. will post 4.31 EPS 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 given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction dated 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 $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

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.