Occudo Quantitative Strategies LP Invests $1.13 Million in Cintas Co. (NASDAQ:CTAS)

Occudo Quantitative Strategies LP acquired a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,201 shares of the business services provider's stock, valued at approximately $1,133,000.

A number of other hedge funds also recently modified their holdings of CTAS. Sound Income Strategies LLC acquired a new stake in Cintas in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas during the 4th quarter valued at approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Cintas during the 4th quarter valued at approximately $31,000. IAG Wealth Partners LLC grew its holdings in 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 last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Cintas during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Price Performance

Shares of Cintas stock traded up $2.36 on Friday, reaching $220.85. The stock had a trading volume of 1,430,885 shares, compared to its average volume of 1,705,578. Cintas Co. has a 1 year low of $164.93 and a 1 year high of $228.12. The company has a market cap of $89.18 billion, a P/E ratio of 53.25, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $204.52 and its two-hundred day moving average is $204.73.

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

Cintas Dividend Announcement

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 paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTAS. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Truist Financial upped their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a "sell" rating and a $161.00 target price for the company. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday, March 27th. Finally, Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $213.88.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction 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 sale, the director now owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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 disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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.