Sherbrooke Park Advisers LLC Makes New $1.13 Million Investment in Cintas Co. (NASDAQ:CTAS)

Sherbrooke Park Advisers LLC purchased a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, Holdings Channel.com reports. The fund purchased 6,205 shares of the business services provider’s stock, valued at approximately $1,134,000.

Other hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in Cintas in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC bought a new stake in Cintas in the fourth quarter worth $29,000. Endeavor Private Wealth Inc. bought a new stake in Cintas in the fourth quarter worth $31,000. IAG Wealth Partners LLC lifted its stake in Cintas by 136.8% in the fourth 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 position in shares of Cintas during the fourth quarter valued at about $34,000. 63.46% of the stock is owned by institutional investors.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $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 available at the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were 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. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CTAS has been the subject of several recent analyst 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. The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Bank of America assumed coverage on shares of 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 boosted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $213.88.

Cintas Price Performance

Shares of CTAS opened at $218.49 on Friday. The firm’s 50-day simple moving average is $204.03 and its two-hundred day simple moving average is $204.65. Cintas Co. has a fifty-two week low of $164.93 and a fifty-two week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market cap of $88.22 billion, a PE ratio of 52.68, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the company posted $3.84 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. Cintas’s dividend payout ratio (DPR) is 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.