Cary Street Partners Financial LLC Buys Shares of 698 Cintas Co. (NASDAQ:CTAS)

Cary Street Partners Financial LLC purchased a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 698 shares of the business services provider’s stock, valued at approximately $128,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new position in shares of Cintas in the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new position in Cintas in the fourth quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new position in Cintas in the fourth quarter worth about $31,000. IAG Wealth Partners LLC raised its holdings in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas during the fourth quarter valued at about $34,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $214.79 on Monday. The company has a 50 day simple moving average of $202.92 and a two-hundred day simple moving average of $204.37. The stock has a market cap of $86.73 billion, a price-to-earnings ratio of 51.79, a PEG ratio of 3.98 and a beta of 1.09. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12 month low of $164.93 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last posted its earnings results 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 net margin of 17.23% and a return on equity of 40.62%. The company 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 firm posted $3.84 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.73%. Cintas’s payout ratio is 36.11%.

Insider Buying and Selling

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction on 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 transaction, the chief operating officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on CTAS shares. Morgan Stanley increased their target price on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. The Goldman Sachs Group increased their price objective on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Robert W. Baird boosted their target price on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Truist Financial increased their price target on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Finally, UBS Group boosted their price target on Cintas from $218.00 to $240.00 and gave the stock a “buy” 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, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $213.88.

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.