Capital Asset Advisory Services LLC Buys 3,315 Shares of Cintas Corporation $CTAS

Capital Asset Advisory Services LLC boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 17.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,147 shares of the business services provider’s stock after purchasing an additional 3,315 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Cintas were worth $3,957,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nemes Rush Group LLC acquired a new position in shares of Cintas during the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new stake in Cintas during the fourth quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new stake in Cintas during the fourth quarter worth about $26,000. Triumph Capital Management bought a new position in Cintas during the third quarter valued at about $29,000. Finally, Camelot Portfolios LLC bought a new position in Cintas during the fourth quarter valued at about $26,000. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 2.4%

Shares of CTAS opened at $174.23 on Thursday. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $172.51 and a two-hundred day moving average price of $183.05. The stock has a market cap of $69.71 billion, a price-to-earnings ratio of 49.22, a P/E/G ratio of 2.71 and a beta of 0.94. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio is 50.85%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of research reports. Truist Financial reduced their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. UBS Group restated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings lowered Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Stifel Nicolaus reduced their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Finally, Bank of America decreased their price target on shares of Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $211.25.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.90% of the stock is owned by company insiders.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.