3,296 Shares in Cintas Corporation $CTAS Purchased by Prossimo Advisors LLC

Prossimo Advisors LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,296 shares of the business services provider’s stock, valued at approximately $620,000. Cintas accounts for approximately 4.0% of Prossimo Advisors LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Camelot Portfolios LLC purchased a new position in shares of Cintas during the 4th quarter valued at approximately $26,000. Key Capital Management INC acquired a new stake in Cintas in the 4th quarter valued at $28,000. Triumph Capital Management purchased a new stake in Cintas in the 3rd quarter worth $29,000. Ares Financial Consulting LLC purchased a new stake in Cintas in the 4th quarter worth $32,000. Finally, Aventura Private Wealth LLC acquired a new position in Cintas during the fourth quarter worth $34,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on CTAS shares. Bank of America began coverage on shares of Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective on the stock. UBS Group restated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Argus upgraded Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a report on Wednesday, March 11th. 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 company has a consensus rating of “Hold” and a consensus price target of $215.17.

Cintas Trading Up 3.7%

Shares of CTAS opened at $174.51 on Tuesday. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $229.24. The stock has a market cap of $69.82 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96. The firm’s fifty day moving average is $177.14 and its two-hundred day moving average is $185.62. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. Research analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be issued a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio is presently 50.85%.

About Cintas

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.