KMG Fiduciary Partners LLC Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

KMG Fiduciary Partners LLC boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 285.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,533 shares of the business services provider’s stock after purchasing an additional 32,988 shares during the period. KMG Fiduciary Partners LLC’s holdings in Cintas were worth $9,153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTAS. JPMorgan Chase & Co. boosted its holdings in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Brighton Jones LLC boosted its holdings in Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 108 shares during the last quarter. Choreo LLC boosted its holdings in Cintas by 43.5% in the fourth quarter. Choreo LLC now owns 9,677 shares of the business services provider’s stock valued at $1,777,000 after purchasing an additional 2,934 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new position in Cintas in the fourth quarter valued at about $581,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Cintas by 5.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 933,451 shares of the business services provider’s stock worth $170,541,000 after buying an additional 44,049 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Activity at Cintas

In related news, 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 value of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Analyst Ratings Changes

CTAS has been the topic of a number of research analyst reports. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They set a “buy” rating and a $250.00 target price on the stock. Truist Financial increased their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company increased their target price on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday, March 27th. Finally, Redburn Atlantic downgraded Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $213.88.

Cintas Trading Up 0.3%

Shares of NASDAQ CTAS opened at $227.66 on Friday. Cintas Co. has a 12-month low of $169.46 and a 12-month high of $229.24. 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 cap of $91.93 billion, a price-to-earnings ratio of 54.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.07. The stock’s 50 day simple moving average is $212.71 and its 200 day simple moving average is $205.57.

Cintas (NASDAQ:CTAS) last posted its earnings results 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 return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period last year, the firm earned $3.84 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, May 15th. Cintas’s dividend payout ratio is currently 36.11%.

Cintas Company 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.