Alpine Global Management LLC Purchases Shares of 1,554 Cintas Co. (NASDAQ:CTAS)

Alpine Global Management LLC acquired a new position in Cintas Co. (NASDAQ:CTAS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,554 shares of the business services provider's stock, valued at approximately $284,000.

Several other large investors have also recently modified their holdings of CTAS. Sound Income Strategies LLC purchased a new position in Cintas in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new position in Cintas during the 4th quarter worth $29,000. Endeavor Private Wealth Inc. purchased a new position in Cintas during the 4th quarter worth $31,000. IAG Wealth Partners LLC increased its position in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after buying an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Cintas in the fourth quarter valued at about $34,000. Institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CTAS. Argus upgraded Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. Truist Financial boosted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Morgan Stanley raised their target price on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Finally, Robert W. Baird lifted their price target on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of "Hold" and a consensus price target of $213.62.

Cintas Price Performance

Shares of CTAS stock traded down $1.35 during mid-day trading on Friday, reaching $208.40. The stock had a trading volume of 1,172,829 shares, compared to its average volume of 1,694,970. The company has a market cap of $84.15 billion, a P/E ratio of 50.25, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. 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. The business has a 50-day simple moving average of $201.51 and a 200 day simple moving average of $204.36.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the prior year, the firm earned $3.84 EPS. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas's payout ratio is currently 36.11%.

Insider Buying and Selling at Cintas

In other 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 completion of the sale, the director now directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction on 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 directly owns 256,528 shares in the company, valued at $48,835,235.36. This trade 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.

Cintas Company 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.