Kane Investment Management Inc. Buys Shares of 22,964 Cintas Co. (NASDAQ:CTAS)

Kane Investment Management Inc. bought a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 22,964 shares of the business services provider's stock, valued at approximately $4,196,000. Cintas accounts for 2.3% of Kane Investment Management Inc.'s investment portfolio, making the stock its 6th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of Cintas in the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas in the fourth quarter valued at about $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas during the fourth quarter worth about $31,000. IAG Wealth Partners LLC grew its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Up 0.5 %

NASDAQ CTAS traded up $1.04 during trading hours on Friday, reaching $205.76. 1,712,106 shares of the company traded hands, compared to its average volume of 1,699,841. The stock has a market capitalization of $83.08 billion, a PE ratio of 49.61, a PEG ratio of 3.98 and a beta of 1.20. The company has a 50 day moving average of $201.41 and a two-hundred day moving average of $204.31. 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 12 month low of $162.16 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.84 EPS. As a group, equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas's dividend payout ratio is presently 36.11%.

Analysts Set New Price Targets

CTAS has been the subject of a number of recent research reports. Citigroup assumed coverage on Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective for the company. UBS Group increased their target price on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. The Goldman Sachs Group boosted their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Bank of America initiated coverage on shares of Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective on the stock. Finally, Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cintas presently has an average rating of "Hold" and a consensus price target of $213.62.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at approximately $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. 15.00% of the stock is currently 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.