Cintas Co. (NASDAQ:CTAS) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 16.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,767 shares of the business services provider’s stock after purchasing an additional 14,551 shares during the quarter. Rafferty Asset Management LLC’s holdings in Cintas were worth $18,410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CTAS. Barclays PLC grew its stake in Cintas by 340.1% during the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock valued at $224,312,000 after purchasing an additional 841,952 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Brookstone Capital Management grew its stake in Cintas by 18.2% during the 4th quarter. Brookstone Capital Management now owns 1,278 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 197 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Cintas during the 4th quarter valued at approximately $319,000. Finally, Signal Advisors Wealth LLC grew its stake in Cintas by 19.3% during the 4th quarter. Signal Advisors Wealth LLC now owns 1,612 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 261 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction 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 owns 27,029 shares of the company’s stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Robert W. Baird increased 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. Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. UBS Group increased 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, Truist Financial increased 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average target price of $213.88.

Cintas Trading Up 2.0%

Shares of NASDAQ CTAS opened at $218.49 on Friday. The company 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 Co. has a 12-month low of $164.93 and a 12-month high of $228.12. 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 stock’s 50 day simple moving average is $204.03 and its 200 day simple moving average is $204.65.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $3.84 EPS. Equities research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 0.71%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s dividend payout ratio (DPR) is 36.11%.

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.