Cintas Co. (NASDAQ:CTAS) Shares Acquired by Montchanin Asset Management LLC

Montchanin Asset Management LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,278 shares of the business services provider’s stock after purchasing an additional 100 shares during the period. Cintas accounts for approximately 4.7% of Montchanin Asset Management LLC’s portfolio, making the stock its 6th largest position. Montchanin Asset Management LLC’s holdings in Cintas were worth $4,801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake in shares of Cintas by 26.7% during the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider’s stock worth $407,163,000 after purchasing an additional 468,950 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after purchasing an additional 1,450 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Alpine Global Management LLC acquired a new position in shares of Cintas during the fourth quarter worth $284,000. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of Cintas by 1,177.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 21,314 shares of the business services provider’s stock worth $3,894,000 after purchasing an additional 19,646 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were 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 owns 27,029 shares in the company, valued at $5,647,979.84. This represents a 23.97% 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.

Analysts Set New Price Targets

CTAS has been the subject of a number of research reports. Truist Financial boosted 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. Bank of America initiated coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target for the company. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. UBS Group boosted their price target on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Citigroup initiated coverage on shares of Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Three 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $213.88.

Cintas Price Performance

Cintas stock opened at $222.29 on Friday. The company has a market cap of $89.76 billion, a P/E ratio of 53.60, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. Cintas Co. has a one year low of $164.93 and a one year high of $228.12. The business has a fifty day moving average of $207.45 and a two-hundred day moving average of $205.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS 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 during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the business earned $3.84 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, May 15th. Cintas’s dividend payout ratio (DPR) is 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.