Cynosure Group LLC Increases Position in Cintas Corporation $CTAS

Cynosure Group LLC raised its position in Cintas Corporation (NASDAQ:CTAS) by 219.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,304 shares of the business services provider’s stock after purchasing an additional 3,643 shares during the period. Cynosure Group LLC’s holdings in Cintas were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Nemes Rush Group LLC purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $25,000. Triumph Capital Management purchased a new stake in shares of Cintas in the 3rd quarter valued at approximately $29,000. Camelot Portfolios LLC purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $26,000. Finally, Key Capital Management INC purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $28,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.90% of the stock is owned by company insiders.

Cintas Trading Down 0.9%

NASDAQ CTAS opened at $174.74 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The firm’s fifty day moving average price is $173.56 and its 200 day moving average price is $184.24. The company has a market capitalization of $69.91 billion, a price-to-earnings ratio of 49.36, a price-to-earnings-growth ratio of 2.80 and a beta of 0.94. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $1.13 EPS. On average, sell-side analysts expect that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s dividend payout ratio (DPR) is 50.85%.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Truist Financial dropped their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America initiated coverage on shares of Cintas in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $215.92.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.