Jacobs Levy Equity Management Inc. Has $131.37 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Jacobs Levy Equity Management Inc. boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 150.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 719,059 shares of the business services provider’s stock after purchasing an additional 431,570 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.18% of Cintas worth $131,372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Cintas in the fourth quarter valued at about $877,216,000. 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 in the last quarter. Winslow Capital Management LLC bought a new stake in shares of Cintas in the 4th quarter worth approximately $196,057,000. Barclays PLC grew its holdings in shares of Cintas by 340.1% during the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock worth $224,312,000 after purchasing an additional 841,952 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Cintas by 2,729.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,285 shares of the business services provider’s stock valued at $112,778,000 after purchasing an additional 595,469 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

CTAS opened at $214.79 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market capitalization of $86.73 billion, a P/E ratio of 51.79, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company’s 50 day simple moving average is $202.92 and its 200-day simple moving average is $204.41. Cintas Co. has a one year low of $164.93 and a one year high of $228.12.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. Cintas’s dividend payout ratio is currently 36.11%.

Insider Buying and Selling

In related news, COO Jim Rozakis sold 2,000 shares of Cintas 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 of the company’s stock, valued at $48,835,235.36. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 27,029 shares of the company’s stock, valued at $5,647,979.84. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTAS. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. Bank of America began coverage on shares of Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 target price on the stock. Robert W. Baird increased their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Argus upgraded shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Finally, Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $213.88.

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.