998 Shares in Cintas Co. (NASDAQ:CTAS) Bought by Cullinan Associates Inc.

Posted by Defense World Staff on Mar 21st, 2023

Cullinan Associates Inc. purchased a new position in Cintas Co. (NASDAQ:CTAS – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 998 shares of the business services provider’s stock, valued at approximately $451,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC grew its stake in shares of Cintas by 30.2% in the third quarter. Kestra Advisory Services LLC now owns 8,062 shares of the business services provider’s stock worth $3,130,000 after acquiring an additional 1,869 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Cintas in the third quarter worth $224,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Cintas by 2.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 27,750 shares of the business services provider’s stock valued at $10,773,000 after purchasing an additional 594 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of Cintas by 3.5% during the third quarter. NorthRock Partners LLC now owns 1,164 shares of the business services provider’s stock valued at $452,000 after purchasing an additional 39 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Cintas by 18.7% in the third quarter. Huntington National Bank now owns 2,539 shares of the business services provider’s stock valued at $986,000 after acquiring an additional 400 shares during the period. 61.92% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

NASDAQ CTAS opened at $441.79 on Tuesday. The stock has a market capitalization of $44.89 billion, a PE ratio of 35.95, a P/E/G ratio of 3.03 and a beta of 1.34. The business has a 50 day simple moving average of $439.78 and a two-hundred day simple moving average of $431.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.53. Cintas Co. has a 1-year low of $343.86 and a 1-year high of $470.23.

Cintas (NASDAQ:CTAS – Get Rating) last posted its quarterly earnings data on Wednesday, December 21st. The business services provider reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.09. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Cintas had a return on equity of 37.89% and a net margin of 15.35%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the company earned $2.76 EPS. On average, research analysts predict that Cintas Co. will post 12.68 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Tuesday, February 14th. Cintas’s payout ratio is 37.43%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CTAS. StockNews.com began coverage on Cintas in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Wells Fargo & Company upped their price target on Cintas from $393.00 to $450.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 22nd. Morgan Stanley upped their price target on Cintas from $373.00 to $401.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 22nd. The Goldman Sachs Group upped their price target on Cintas from $495.00 to $530.00 in a research report on Wednesday, December 21st. Finally, Barclays upped their price target on Cintas from $435.00 to $500.00 in a research report on Friday, December 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $476.10.

Insider Activity

In other news, CAO Michael Lawrence Thompson sold 14,795 shares of the firm’s stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $444.98, for a total value of $6,583,479.10. Following the completion of the sale, the chief accounting officer now directly owns 23,318 shares of the company’s stock, valued at approximately $10,376,043.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Michael Lawrence Thompson sold 14,795 shares of the firm’s stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $444.98, for a total transaction of $6,583,479.10. Following the completion of the sale, the chief accounting officer now directly owns 23,318 shares of the company’s stock, valued at approximately $10,376,043.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO J. Michael Hansen sold 1,618 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $441.85, for a total value of $714,913.30. Following the sale, the chief financial officer now directly owns 30,132 shares of the company’s stock, valued at $13,313,824.20. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.

About Cintas

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Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.