KMG Fiduciary Partners LLC Boosts Position in Cintas Co. (NASDAQ:CTAS)

KMG Fiduciary Partners LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 285.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,533 shares of the business services provider’s stock after acquiring an additional 32,988 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Cintas were worth $9,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Cintas in the first quarter valued at $244,000. Wedmont Private Capital lifted its position in shares of Cintas by 2.4% in the first quarter. Wedmont Private Capital now owns 10,593 shares of the business services provider’s stock valued at $2,183,000 after acquiring an additional 248 shares in the last quarter. Clean Yield Group lifted its position in shares of Cintas by 33.8% in the first quarter. Clean Yield Group now owns 428 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 108 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Cintas in the first quarter valued at $208,000. Finally, Impact Capital Partners LLC lifted its position in shares of Cintas by 6.4% in the first quarter. Impact Capital Partners LLC now owns 1,701 shares of the business services provider’s stock valued at $350,000 after acquiring an additional 102 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $227.66 on Friday. The firm has a market capitalization of $91.93 billion, a PE ratio of 54.89, a P/E/G ratio of 3.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The business has a 50-day moving average of $212.71 and a two-hundred day moving average of $205.57. Cintas Co. has a 12 month low of $169.46 and a 12 month high of $229.24.

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

Cintas Dividend Announcement

The company 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas’s dividend payout ratio is presently 36.11%.

Insider Activity

In other news, COO Jim Rozakis sold 2,000 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated 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 sale, the director now 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. Insiders own 15.00% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Argus upgraded Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Robert W. Baird upped their target price on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company upped their target price on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average price target of $213.88.

About Cintas

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.