Legacy Financial Advisors Inc. Has $1.34 Million Stake in Cintas Co. (NASDAQ:CTAS)

Legacy Financial Advisors Inc. decreased its position in shares of Cintas Co. (NASDAQ:CTAS) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,336 shares of the business services provider’s stock after selling 811 shares during the period. Legacy Financial Advisors Inc.’s holdings in Cintas were worth $1,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CTAS. Geode Capital Management LLC increased its holdings in shares of Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Norges Bank bought a new position in shares of Cintas during the 4th quarter worth about $877,216,000. Franklin Resources Inc. increased its holdings in shares of Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Finally, Winslow Capital Management LLC bought a new position in shares of Cintas during the 4th quarter worth about $196,057,000. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS stock opened at $203.99 on Thursday. The firm’s 50 day moving average is $200.97 and its 200-day moving average is $204.27. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The firm has a market capitalization of $82.32 billion, a price-to-earnings ratio of 49.18, a PEG ratio of 3.98 and a beta of 1.20. 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 announced 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 net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the business posted $3.84 earnings per share. Cintas’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is currently 36.11%.

Insider Buying and Selling at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the company’s 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 approximately $48,835,235.36. This represents 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 accessible through the SEC website. Insiders own 15.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CTAS shares. The Goldman Sachs Group upped their target price on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Citigroup started coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Morgan Stanley upped their target price on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Finally, Robert W. Baird upped their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $210.58.

Cintas Company 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.