Annex Advisory Services LLC Decreases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Annex Advisory Services LLC lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 25.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,639 shares of the business services provider's stock after selling 32,802 shares during the period. Annex Advisory Services LLC's holdings in Cintas were worth $19,451,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after acquiring an additional 468,950 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Alpine Global Management LLC purchased a new stake in Cintas during the 4th quarter valued at about $284,000. Treasurer of the State of North Carolina grew its stake in Cintas by 12.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider's stock valued at $31,092,000 after acquiring an additional 18,620 shares in the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $512,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTAS. Truist Financial raised their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Morgan Stanley raised their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a report on Thursday, March 27th. Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Finally, The Goldman Sachs Group raised their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $213.88.

Cintas Trading Down 0.2%

Cintas stock traded down $0.47 during trading on Thursday, hitting $226.90. The company had a trading volume of 1,285,634 shares, compared to its average volume of 1,693,391. Cintas Co. has a 1-year low of $169.46 and a 1-year high of $228.80. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company's 50 day simple moving average is $211.89 and its 200-day simple moving average is $205.52. The stock has a market cap of $91.62 billion, a price-to-earnings ratio of 54.71, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the firm earned $3.84 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared 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 dividend yield of 0.69%. Cintas's dividend payout ratio (DPR) is 36.11%.

Insiders Place Their Bets

In other Cintas 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 value of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares in the company, 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 legal filing with the SEC, 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 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 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 position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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.