Simon Quick Advisors LLC Has $460,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Simon Quick Advisors LLC grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 84.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,240 shares of the business services provider’s stock after purchasing an additional 1,027 shares during the quarter. Simon Quick Advisors LLC’s holdings in Cintas were worth $460,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cyrus J. Lawrence LLC bought a new position in shares of Cintas during the fourth quarter worth about $29,000. IAG Wealth Partners LLC increased its holdings in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after purchasing an additional 134 shares in the last quarter. OFI Invest Asset Management bought a new stake in Cintas in the fourth quarter worth approximately $37,000. Finally, VSM Wealth Advisory LLC bought a new stake in Cintas in the fourth quarter worth approximately $40,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CTAS shares. Robert W. Baird lifted their target price on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. The Goldman Sachs Group lifted their target price on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday, March 27th. Morgan Stanley boosted their price objective on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Finally, Argus upgraded Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $215.81.

Cintas Stock Down 0.7%

CTAS stock opened at $221.98 on Friday. The stock’s fifty day simple moving average is $215.30 and its two-hundred day simple moving average is $205.67. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1-year low of $171.26 and a 1-year high of $229.24. The stock has a market cap of $89.63 billion, a P/E ratio of 53.52, a P/E/G ratio of 3.98 and a beta of 1.08.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.84 earnings per share. Analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas’s payout ratio is presently 36.11%.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction on 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 directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

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.