6,201 Shares in Cintas Co. (NASDAQ:CTAS) Purchased by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP bought a new stake in shares of Cintas Co. (NASDAQ:CTAS) in the fourth quarter, Holdings Channel reports. The fund bought 6,201 shares of the business services provider’s stock, valued at approximately $1,133,000.

Other hedge funds have also made changes to their positions in the company. Barclays PLC boosted its position in Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock worth $224,312,000 after acquiring an additional 841,952 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 valued at $457,574,000 after acquiring an additional 1,286,668 shares during the last quarter. Czech National Bank lifted its stake in Cintas by 6.5% in the 4th quarter. Czech National Bank now owns 74,327 shares of the business services provider’s stock worth $13,580,000 after purchasing an additional 4,533 shares in the last quarter. Aprio Wealth Management LLC boosted its holdings in shares of Cintas by 27.1% during the 4th quarter. Aprio Wealth Management LLC now owns 1,666 shares of the business services provider’s stock worth $304,000 after purchasing an additional 355 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in shares of Cintas by 18.2% during the 4th quarter. Brookstone Capital Management now owns 1,278 shares of the business services provider’s stock worth $233,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTAS. Robert W. Baird increased their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Truist Financial raised 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. Morgan Stanley boosted their price target on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Finally, Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $213.88.

Insider Activity

In other Cintas news, 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction dated 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 sale, the director now owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% 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.

Cintas Trading Down 0.8%

Shares of CTAS stock opened at $215.33 on Wednesday. Cintas Co. has a 1-year low of $164.93 and a 1-year high of $228.12. The firm has a market cap of $86.95 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company has a 50-day moving average of $203.45 and a two-hundred day moving average of $204.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

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, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the company posted $3.84 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. 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.