Beacon Pointe Advisors LLC Trims Position in Cintas Co. (NASDAQ:CTAS)

Beacon Pointe Advisors LLC reduced its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 47.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,054 shares of the business services provider's stock after selling 2,727 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Cintas were worth $558,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after buying an additional 219,809 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after acquiring an additional 296,059 shares in the last quarter. Norges Bank acquired a new position in shares of Cintas during the fourth quarter worth approximately $877,216,000. Franklin Resources Inc. lifted its holdings in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Cintas by 3.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,570,635 shares of the business services provider's stock valued at $469,656,000 after purchasing an additional 78,533 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTAS has been the topic of several research reports. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. UBS Group raised their price target on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Citigroup assumed coverage on Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $213.88.

Insider Activity

In other news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at approximately $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. Insiders own 15.00% of the company's stock.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded up $1.81 during midday trading on Wednesday, reaching $215.12. The company had a trading volume of 1,917,196 shares, compared to its average volume of 1,697,089. The stock has a market cap of $86.86 billion, a P/E ratio of 51.87, a P/E/G ratio of 3.98 and a beta of 1.09. The company's 50 day moving average price is $202.41 and its 200 day moving average price is $204.32. 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 52-week low of $164.93 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the previous year, the company earned $3.84 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal 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 of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. Cintas's payout ratio is presently 36.11%.

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.