Topsail Wealth Management LLC Takes Position in Cintas Co. (NASDAQ:CTAS)

Topsail Wealth Management LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,212 shares of the business services provider's stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Guardian Wealth Advisors LLC increased its position in Cintas by 3.1% during the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock worth $318,000 after buying an additional 52 shares during the period. MGB Wealth Management LLC raised its position in Cintas by 0.7% in the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock valued at $1,328,000 after purchasing an additional 52 shares during the last quarter. TIAA Trust National Association boosted its stake in Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after purchasing an additional 52 shares during the period. Wellspring Financial Advisors LLC increased its stake in Cintas by 4.6% in the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after purchasing an additional 52 shares during the period. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of Cintas by 2.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider's stock valued at $512,000 after buying an additional 55 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

NASDAQ CTAS traded up $2.54 during trading hours on Wednesday, reaching $211.80. The company's stock had a trading volume of 729,969 shares, compared to its average volume of 1,699,843. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market cap of $85.52 billion, a PE ratio of 51.07, a PEG ratio of 3.98 and a beta of 1.20. The company's 50-day moving average is $201.68 and its two-hundred day moving average is $204.36. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The firm 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%. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.84 EPS. Analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. Cintas's dividend payout ratio is presently 36.11%.

Insider Buying and Selling

In other 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 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 $48,835,235.36. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research note 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 target for the company. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Citigroup assumed 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. Finally, 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 report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $213.62.

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.