Value Partners Investments Inc. Has $2.66 Million Holdings in Cintas Corporation (NASDAQ:CTAS)

Value Partners Investments Inc. lifted its position in shares of Cintas Corporation (NASDAQ:CTAS) by 7.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,950 shares of the business services provider’s stock after purchasing an additional 926 shares during the quarter. Value Partners Investments Inc.’s holdings in Cintas were worth $2,663,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTAS. Norges Bank acquired a new stake in shares of Cintas during the fourth quarter worth $877,216,000. GAMMA Investing LLC boosted its stake in Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider’s stock worth $465,133,000 after acquiring an additional 2,251,629 shares in the last quarter. Winslow Capital Management LLC bought a new position in Cintas during the fourth quarter worth $196,057,000. Raymond James Financial Inc. bought a new position in Cintas during the fourth quarter worth $96,282,000. Finally, Northern Trust Corp boosted its stake in Cintas by 13.1% during the fourth 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 in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm’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 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 insiders.

Cintas Stock Down 1.8%

Cintas stock opened at $219.24 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $218.05 and its two-hundred day moving average price is $205.51. Cintas Corporation has a 1-year low of $172.20 and a 1-year high of $229.24. The firm has a market capitalization of $88.53 billion, a price-to-earnings ratio of 50.78, a price-to-earnings-growth ratio of 3.48 and a beta of 1.07.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results 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 net margin of 17.53% and a return on equity of 41.30%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm earned $3.84 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, May 15th. Cintas’s payout ratio is currently 36.11%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group increased their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Morgan Stanley increased their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Robert W. Baird increased their target price 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. Truist Financial increased their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $215.81.

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.