Centennial Wealth Advisory LLC Invests $241,000 in Cintas Corporation (NASDAQ:CTAS)

Centennial Wealth Advisory LLC purchased a new stake in Cintas Corporation (NASDAQ:CTAS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,174 shares of the business services provider’s stock, valued at approximately $241,000.

Several other institutional investors have also made changes to their positions in CTAS. Geode Capital Management LLC raised 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 valued at $1,544,822,000 after acquiring an additional 219,809 shares in the last quarter. Invesco Ltd. increased its position in shares of Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank acquired a new position in Cintas in the fourth quarter valued at about $877,216,000. Northern Trust Corp raised its stake in Cintas by 13.1% in the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider’s stock valued at $743,048,000 after purchasing an additional 472,069 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Cintas by 3.3% during the fourth 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 period. 63.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, 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 transaction of $1,780,548.16. Following the completion of the transaction, the director now directly owns 27,029 shares of the company’s stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value 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. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday, March 27th. UBS Group lifted their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Robert W. Baird lifted their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Finally, Bank of America assumed coverage on Cintas in a report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $215.81.

Cintas Stock Down 0.4%

Shares of CTAS opened at $220.42 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. Cintas Corporation has a 52 week low of $172.20 and a 52 week high of $229.24. The stock has a market capitalization of $89.00 billion, a price-to-earnings ratio of 51.05, a PEG ratio of 3.44 and a beta of 1.07. The stock has a fifty day moving average of $216.98 and a 200-day moving average of $205.59.

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. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $3.84 earnings per share. As a group, sell-side analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas’s dividend payout ratio is presently 36.11%.

About Cintas

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.