Cintas Co. (NASDAQ:CTAS) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 39.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,604 shares of the business services provider’s stock after buying an additional 1,883 shares during the period. Pallas Capital Advisors LLC’s holdings in Cintas were worth $1,357,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in 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 buying an additional 219,809 shares during the last quarter. Invesco Ltd. boosted its holdings in Cintas by 6.1% in the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after buying an additional 296,059 shares during the last quarter. Norges Bank acquired a new stake in Cintas in the 4th quarter worth about $877,216,000. Northern Trust Corp lifted its stake 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 worth $743,048,000 after purchasing an additional 472,069 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider’s stock worth $667,919,000 after purchasing an additional 115,268 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the business’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 sale, the chief operating officer now owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of 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 owned by corporate insiders.

Cintas Stock Down 1.1%

CTAS stock opened at $222.22 on Wednesday. The firm has a market cap of $89.73 billion, a PE ratio of 53.58, a PEG ratio of 3.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm’s 50 day moving average price is $213.38 and its 200-day moving average price is $205.59. Cintas Co. has a one year low of $169.96 and a one year high of $229.24.

Cintas (NASDAQ:CTAS) last announced 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. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.84 earnings per share. On average, equities research analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, May 15th. Cintas’s payout ratio is 36.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CTAS shares. Citigroup started coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price (up from $215.00) on shares of Cintas in a report on Monday. Robert W. Baird boosted their target price on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Finally, Bank of America started coverage on Cintas in a report on Thursday, April 10th. They set a “buy” rating and a $250.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average price target of $215.81.

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.