Man Group plc Buys 45,189 Shares of Cintas Co. (NASDAQ:CTAS)

Man Group plc boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 292,606 shares of the business services provider's stock after acquiring an additional 45,189 shares during the period. Man Group plc owned approximately 0.07% of Cintas worth $53,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in shares of Cintas in the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the fourth quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new stake in Cintas during the fourth quarter worth about $31,000. IAG Wealth Partners LLC raised its holdings in Cintas by 136.8% during the fourth 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 in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Cintas during the fourth quarter worth about $34,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

NASDAQ CTAS traded up $2.36 during trading on Friday, reaching $220.85. 1,430,885 shares of the company's stock were exchanged, compared to its average volume of 1,707,584. The business has a 50 day moving average price of $204.52 and a 200-day moving average price of $204.71. The stock has a market capitalization of $89.18 billion, a P/E ratio of 53.25, a PEG ratio of 3.98 and a beta of 1.09. 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 fifty-two week low of $164.93 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the business earned $3.84 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's payout ratio is 36.11%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Bank of America assumed coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price on the stock. Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. UBS Group upped their target price on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Robert W. Baird upped their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned 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, Cintas currently has a consensus rating of "Hold" and a consensus target price of $213.88.

Insider Activity

In other news, COO Jim Rozakis sold 2,000 shares of the company's 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 of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the company's 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 completion of the transaction, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

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.