Banco Bilbao Vizcaya Argentaria S.A. Increases Holdings in Cintas Co. (NASDAQ:CTAS)

Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 34.0% during the 4th quarter, HoldingsChannel reports. The firm owned 84,349 shares of the business services provider’s stock after buying an additional 21,381 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Cintas were worth $15,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CTAS. Sound Income Strategies LLC purchased a new position in Cintas during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Cintas in the 4th quarter valued at $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Cintas in the 4th quarter worth $31,000. IAG Wealth Partners LLC lifted 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 purchasing an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Cintas during the fourth quarter valued at about $34,000. 63.46% of the stock is owned by institutional investors.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the 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 transaction, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm’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 directly owns 256,528 shares in the company, valued at approximately $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. Corporate insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CTAS. Robert W. Baird boosted their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price for the company. Bank of America began coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target on the stock. Finally, Truist Financial raised their price objective on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $213.62.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $209.75 on Friday. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market cap of $84.69 billion, a P/E ratio of 50.57, a P/E/G ratio of 3.98 and a beta of 1.20. The business’s 50 day moving average price is $201.51 and its 200 day moving average price is $204.36.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $3.84 EPS. On average, sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s 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.