McElhenny Sheffield Capital Management LLC Purchases Shares of 2,299 Cintas Co. (NASDAQ:CTAS)

McElhenny Sheffield Capital Management LLC acquired a new position in Cintas Co. (NASDAQ:CTAS) during the 1st quarter, HoldingsChannel reports. The fund acquired 2,299 shares of the business services provider’s stock, valued at approximately $473,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTAS. Cyrus J. Lawrence LLC acquired a new stake in Cintas during the fourth quarter valued at $29,000. IAG Wealth Partners LLC boosted its stake in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after acquiring an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas during the 4th quarter worth about $34,000. Meeder Asset Management Inc. grew its position in shares of Cintas by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 134 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of Cintas in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Buying and Selling at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the 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 of the company’s stock, valued at $48,835,235.36. This represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,780,548.16. Following the sale, the director now owns 27,029 shares of the company’s stock, valued at $5,647,979.84. This represents a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Cintas Stock Performance

NASDAQ:CTAS opened at $221.72 on Thursday. The company has a market cap of $89.53 billion, a P/E ratio of 53.46, a P/E/G ratio of 3.98 and a beta of 1.08. Cintas Co. has a twelve month low of $170.93 and a twelve month high of $229.24. The company’s 50-day moving average price is $214.01 and its 200-day moving average price is $205.71. 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 (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.84 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. 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 dividend payout ratio (DPR) is currently 36.11%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price on the stock. in a research report on Thursday, May 1st. Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday, March 27th. Finally, Argus raised shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.