Farther Finance Advisors LLC Has $1.46 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Farther Finance Advisors LLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 11.1% in the first quarter, HoldingsChannel reports. The firm owned 7,031 shares of the business services provider’s stock after purchasing an additional 701 shares during the period. Farther Finance Advisors LLC’s holdings in Cintas were worth $1,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after purchasing an additional 219,809 shares during the period. Invesco Ltd. boosted its position in Cintas by 6.1% during the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after acquiring an additional 296,059 shares during the period. Norges Bank acquired a new stake in Cintas during the 4th quarter worth about $877,216,000. Northern Trust Corp boosted its position in Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider’s stock worth $743,048,000 after acquiring an additional 472,069 shares during the period. Finally, Royal Bank of Canada boosted its position in Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider’s stock worth $667,919,000 after acquiring an additional 115,268 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CTAS shares. Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 price objective for the company. Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective for the company. in a research report on Thursday, May 1st. 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. UBS Group raised their price objective on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, Argus raised Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $215.81.

Cintas Stock Down 0.2%

Shares of CTAS stock opened at $221.72 on Thursday. The stock’s 50 day simple moving average is $214.01 and its 200 day simple moving average is $205.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a twelve month low of $170.93 and a twelve month high of $229.24. The company has a market capitalization of $89.53 billion, a price-to-earnings ratio of 53.46, a PEG ratio of 3.98 and a beta of 1.08.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the business earned $3.84 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

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 paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s payout ratio is 36.11%.

Cintas 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.