Smith Shellnut Wilson LLC ADV Increases Stake in Cintas Co. (NASDAQ:CTAS)

Smith Shellnut Wilson LLC ADV lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 8.2% during the 4th quarter, HoldingsChannel reports. The fund owned 5,768 shares of the business services provider’s stock after acquiring an additional 436 shares during the period. Smith Shellnut Wilson LLC ADV’s holdings in Cintas were worth $1,054,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Sound Income Strategies LLC purchased a new position in Cintas in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in Cintas in the fourth quarter valued at approximately $29,000. 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 valued at $33,000 after buying an additional 104 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Cintas in the fourth quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. raised its holdings in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock valued at $35,000 after buying an additional 134 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This trade 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 on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday, March 27th. Bank of America began coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Thursday, March 27th. Redburn Atlantic downgraded shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective for the company. in a research report on Thursday, May 1st. Finally, Truist Financial increased their price objective 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $213.88.

Cintas Stock Up 0.3%

CTAS stock opened at $222.29 on Tuesday. Cintas Co. has a twelve month low of $164.93 and a twelve month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $89.76 billion, a P/E ratio of 53.60, a PEG ratio of 3.98 and a beta of 1.09. The firm has a 50 day simple moving average of $207.97 and a 200-day simple moving average of $205.04.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping 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 business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the company earned $3.84 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, May 15th. 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.