Argentarii LLC Has $1.51 Million Stock Position in Cintas Corporation (NASDAQ:CTAS)

Argentarii LLC increased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 44.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,327 shares of the business services provider’s stock after purchasing an additional 2,259 shares during the quarter. Argentarii LLC’s holdings in Cintas were worth $1,506,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CTAS. Cyrus J. Lawrence LLC bought a new stake in Cintas during the 4th quarter worth about $29,000. IAG Wealth Partners LLC grew its holdings in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 134 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Cintas during the 4th quarter worth approximately $37,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Cintas during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $240.00 price target (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. The Goldman Sachs Group lifted their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company upgraded shares of Cintas from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $219.58.

Cintas Stock Up 1.5%

Cintas stock opened at $218.83 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. Cintas Corporation has a 52-week low of $176.60 and a 52-week high of $229.24. The firm has a 50 day moving average price of $220.01 and a two-hundred day moving average price of $206.00. The firm has a market cap of $88.36 billion, a price-to-earnings ratio of 50.68, a PEG ratio of 3.42 and a beta of 1.05.

Cintas Dividend Announcement

The business also recently announced 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. The ex-dividend date was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas’s payout ratio is presently 36.11%.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the transaction, the director owned 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer owned 256,528 shares of the company’s stock, valued at $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

About Cintas

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.