Cintas Co. (NASDAQ:CTAS) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 24.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,601 shares of the business services provider's stock after selling 14,731 shares during the quarter. Pathstone Holdings LLC's holdings in Cintas were worth $8,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. Geode Capital Management LLC raised its stake in Cintas by 2.7% during the fourth 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 during the last quarter. Invesco Ltd. lifted its stake in shares of Cintas by 6.1% in the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank purchased a new stake in Cintas in the fourth quarter worth about $877,216,000. Northern Trust Corp lifted its holdings in Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after purchasing an additional 472,069 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Cintas by 3.2% during 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. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Price Performance

Shares of NASDAQ:CTAS traded down $0.16 during midday trading on Tuesday, hitting $222.87. The company's stock had a trading volume of 1,400,297 shares, compared to its average volume of 1,707,801. Cintas Co. has a 12-month low of $164.93 and a 12-month high of $228.12. The company has a market cap of $89.99 billion, a P/E ratio of 53.74, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The business's 50 day simple moving average is $205.13 and its 200 day simple moving average is $204.82.

Cintas (NASDAQ:CTAS - Get Free Report) last posted 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. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.84 earnings per share. On average, analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. Cintas's dividend payout ratio is presently 36.11%.

Insiders Place Their Bets

In related news, 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 transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction 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 completion of the transaction, 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 disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. UBS Group raised their target price 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. Morgan Stanley upped their price objective on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. Finally, Wells Fargo & Company upped their target price on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Cintas presently has a consensus rating of "Hold" and an average target price of $213.88.

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.