Schonfeld Strategic Advisors LLC Boosts Stake in Cintas Co. (NASDAQ:CTAS)

Schonfeld Strategic Advisors LLC boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 71.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,750 shares of the business services provider’s stock after acquiring an additional 4,078 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Cintas were worth $1,781,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CTAS. Geode Capital Management LLC increased its stake in shares of Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock worth $1,544,822,000 after acquiring an additional 219,809 shares during the last quarter. Invesco Ltd. increased its position in Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after purchasing an additional 296,059 shares during the last quarter. Norges Bank purchased a new position in Cintas during the fourth quarter worth about $877,216,000. Northern Trust Corp boosted its holdings in Cintas by 13.1% in the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider’s stock valued at $743,048,000 after purchasing an additional 472,069 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Cintas by 3.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,570,635 shares of the business services provider’s stock valued at $469,656,000 after buying an additional 78,533 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm’s 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 sale, the director now directly 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. 15.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday, March 27th. Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Finally, UBS Group lifted their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $213.88.

Cintas Price Performance

CTAS stock opened at $211.82 on Tuesday. Cintas Co. has a 1 year low of $164.93 and a 1 year high of $228.12. The firm has a market capitalization of $85.53 billion, a P/E ratio of 51.07, a P/E/G ratio of 3.98 and a beta of 1.20. 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’s 50-day moving average is $202.21 and its two-hundred day moving average is $204.26.

Cintas (NASDAQ:CTAS) last issued 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 net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the company earned $3.84 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 dividend on an annualized basis and a dividend yield of 0.74%. Cintas’s payout ratio is currently 36.11%.

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.