Three Cord True Wealth Management LLC Purchases Shares of 5,228 Cintas Co. (NASDAQ:CTAS)

Three Cord True Wealth Management LLC acquired a new position in Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,228 shares of the business services provider’s stock, valued at approximately $955,000. Cintas accounts for approximately 0.8% of Three Cord True Wealth Management LLC’s investment portfolio, making the stock its 13th largest position.

A number of other institutional investors have also made changes to their positions in the business. MJP Associates Inc. ADV grew its position in Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock worth $441,000 after purchasing an additional 50 shares during the last quarter. Guardian Wealth Advisors LLC lifted its stake in shares of Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after buying an additional 52 shares during the period. MGB Wealth Management LLC grew its position in Cintas by 0.7% during the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock worth $1,328,000 after buying an additional 52 shares in the last quarter. TIAA Trust National Association increased its stake in Cintas by 1.0% during the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after acquiring an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC increased its stake in Cintas by 4.6% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after acquiring an additional 52 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTAS. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Robert W. Baird lifted 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. UBS Group boosted their price target on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, Truist Financial increased their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cintas has an average rating of “Hold” and a consensus target price of $213.88.

Insider Buying and Selling

In other 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 transaction of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares in the company, 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 this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s 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 completion of the transaction, the director now owns 27,029 shares of the company’s stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

Cintas Price Performance

NASDAQ:CTAS opened at $222.29 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. The firm has a market cap of $89.76 billion, a PE ratio of 53.60, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. Cintas Co. has a 12 month low of $164.93 and a 12 month high of $228.12. The company’s 50-day moving average price is $207.45 and its two-hundred day moving average price is $205.25.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The business 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%. Cintas’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.84 EPS. On average, equities analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.70%. Cintas’s dividend payout ratio (DPR) is 36.11%.

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.