ExodusPoint Capital Management LP increased its position in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 14.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 134,044 shares of the business services provider’s stock after buying an additional 17,370 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Cintas were worth $25,210,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in CTAS. Nemes Rush Group LLC purchased a new stake in shares of Cintas during the fourth quarter worth approximately $25,000. Swiss RE Ltd. purchased a new stake in shares of Cintas during the fourth quarter worth approximately $25,000. Camelot Portfolios LLC purchased a new stake in shares of Cintas during the fourth quarter worth approximately $26,000. Key Capital Management INC purchased a new stake in shares of Cintas during the fourth quarter worth approximately $28,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Cintas by 226.7% during the fourth quarter. Meeder Asset Management Inc. now owns 147 shares of the business services provider’s stock worth $28,000 after buying an additional 102 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CTAS has been the topic of several recent analyst reports. UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Citigroup dropped their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Truist Financial dropped their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. Finally, Stifel Nicolaus dropped their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $215.92.
Insider Buying and Selling at Cintas
In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.90% of the company’s stock.
Cintas Stock Performance
Shares of Cintas stock opened at $176.71 on Wednesday. The firm has a market capitalization of $70.70 billion, a P/E ratio of 49.92, a P/E/G ratio of 2.78 and a beta of 0.94. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $173.60 and its two-hundred day moving average is $184.19.
Cintas (NASDAQ:CTAS – Get Free Report) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 earnings per share. Research analysts forecast that Cintas Corporation will post 4.89 EPS for the current fiscal year.
Cintas Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s dividend payout ratio is presently 50.85%.
Cintas Company Profile
Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
See Also
- Five stocks we like better than Cintas
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS – Free Report).
Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.
