AMI Asset Management Corp Has $17.28 Million Stock Holdings in Cintas Corporation (NASDAQ:CTAS)

AMI Asset Management Corp lowered its position in shares of Cintas Corporation (NASDAQ:CTAS) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,089 shares of the business services provider’s stock after selling 3,450 shares during the quarter. AMI Asset Management Corp’s holdings in Cintas were worth $17,283,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of 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 acquiring an additional 108 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Cintas by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider’s stock worth $93,969,000 after acquiring an additional 3,504 shares in the last quarter. Sigma Planning Corp grew its stake in shares of Cintas by 48.1% during the 4th quarter. Sigma Planning Corp now owns 4,338 shares of the business services provider’s stock worth $793,000 after acquiring an additional 1,409 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Cintas by 12.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,183 shares of the business services provider’s stock worth $216,000 after acquiring an additional 135 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its stake in shares of Cintas by 3.2% during the 4th quarter. Wealthspire Advisors LLC now owns 4,081 shares of the business services provider’s stock worth $746,000 after acquiring an additional 125 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CTAS. Truist Financial raised their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Bank of America began coverage on Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target for the company. The Goldman Sachs Group raised their price target on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Royal Bank Of Canada restated a “sector perform” rating and issued a $240.00 price target (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Finally, Wells Fargo & Company raised their price target on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $215.81.

Cintas Stock Performance

CTAS opened at $219.24 on Thursday. Cintas Corporation has a 12-month low of $172.20 and a 12-month high of $229.24. The stock has a market cap of $88.53 billion, a price-to-earnings ratio of 50.78, a PEG ratio of 3.48 and a beta of 1.07. The business has a 50 day moving average of $218.05 and a 200-day moving average of $205.51. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period last year, the firm posted $3.84 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas’s payout ratio is currently 36.11%.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The stock was 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 of the company’s stock, valued at approximately $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. 15.00% of the stock is currently owned by insiders.

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.