Cintas Co. (NASDAQ:CTAS) Position Raised by Tidal Investments LLC

Tidal Investments LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 418.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 152,865 shares of the business services provider’s stock after buying an additional 123,373 shares during the quarter. Tidal Investments LLC’s holdings in Cintas were worth $27,928,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CTAS. Norges Bank bought a new stake in Cintas in the fourth quarter valued at $877,216,000. JPMorgan Chase & Co. lifted its stake in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Winslow Capital Management LLC bought a new stake in shares of Cintas during the fourth quarter valued at about $196,057,000. Barclays PLC raised its stake in shares of Cintas by 340.1% during the third 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. Finally, Raymond James Financial Inc. bought a new stake in shares of Cintas during the fourth quarter valued at about $96,282,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $220.85 on Friday. The business’s 50-day moving average price is $204.52 and its 200 day moving average price is $204.71. The firm has a market cap of $89.18 billion, a P/E ratio of 53.25, a PEG ratio of 3.98 and a beta of 1.09. Cintas Co. has a 52-week low of $164.93 and a 52-week high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping 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 revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $3.84 EPS. As a group, sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas’s payout ratio is presently 36.11%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent analyst reports. Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective on the stock. in a research note on Thursday, May 1st. Argus upgraded shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Truist Financial lifted their price objective on shares of 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 initiated coverage on shares of Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $213.88.

Insiders Place Their Bets

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s 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 sale, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. Corporate 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.