Clean Yield Group Buys 108 Shares of Cintas Co. (NASDAQ:CTAS)

Clean Yield Group grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 33.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 428 shares of the business services provider’s stock after buying an additional 108 shares during the quarter. Clean Yield Group’s holdings in Cintas were worth $88,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Cintas during the fourth quarter worth about $877,216,000. GAMMA Investing LLC raised its holdings in shares of Cintas by 19,644.3% during the 1st quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider’s stock valued at $465,133,000 after buying an additional 2,251,629 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in Cintas in the fourth quarter worth approximately $196,057,000. Finally, Raymond James Financial Inc. bought a new position in Cintas during the fourth quarter valued at approximately $96,282,000. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of research reports. UBS Group upped 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. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Truist Financial raised their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price for the company. in a research note on Thursday, May 1st. Finally, Wells Fargo & Company increased their target price on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average target price of $213.88.

Insider Activity

In other 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 directly owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm’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 transaction, the director now directly owns 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $227.66 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52 week low of $169.46 and a 52 week high of $229.24. The firm has a market capitalization of $91.93 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 3.98 and a beta of 1.07. The stock has a fifty day moving average of $212.71 and a 200 day moving average of $205.57.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share 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 business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the firm posted $3.84 EPS. The business’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. 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%.

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.