Cintas Co. (NASDAQ:CTAS) Shares Acquired by Dividend Assets Capital LLC

Dividend Assets Capital LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,558 shares of the business services provider’s stock after buying an additional 867 shares during the quarter. Dividend Assets Capital LLC’s holdings in Cintas were worth $6,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after purchasing an additional 108 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in Cintas by 56.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 10,814 shares of the business services provider’s stock worth $1,976,000 after purchasing an additional 3,898 shares in the last quarter. Empowered Funds LLC grew its stake in Cintas by 29.5% during the 4th quarter. Empowered Funds LLC now owns 24,634 shares of the business services provider’s stock worth $4,501,000 after purchasing an additional 5,606 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Cintas by 4.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 12,137 shares of the business services provider’s stock worth $2,217,000 after purchasing an additional 565 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Cintas during the 4th quarter worth $34,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Down 1.3%

Shares of NASDAQ CTAS opened at $224.60 on Tuesday. Cintas Co. has a 1 year low of $169.46 and a 1 year high of $229.24. 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 company has a market capitalization of $90.69 billion, a price-to-earnings ratio of 54.15, a price-to-earnings-growth ratio of 3.98 and a beta of 1.07. The business has a 50-day moving average of $213.03 and a two-hundred day moving average of $205.48.

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

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 0.69%. The ex-dividend date is Thursday, May 15th. Cintas’s payout ratio is currently 36.11%.

Analysts Set New Price Targets

CTAS has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on Cintas from $215.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Monday. Bank of America assumed coverage on Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 target price for the company. Citigroup assumed coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Truist Financial lifted their price target on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, Redburn Atlantic downgraded Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $215.81.

Insider Activity

In other news, 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 completion of the sale, the director now directly owns 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Company 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.