Abacus FCF Advisors LLC Has $2.40 Million Stake in Cintas Co. (NASDAQ:CTAS)

Abacus FCF Advisors LLC cut its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 44.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,697 shares of the business services provider's stock after selling 9,236 shares during the quarter. Abacus FCF Advisors LLC's holdings in Cintas were worth $2,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MJP Associates Inc. ADV raised its stake in shares of Cintas by 2.1% in the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after acquiring an additional 50 shares during the last quarter. MGB Wealth Management LLC raised its position in Cintas by 0.7% in the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock worth $1,328,000 after purchasing an additional 52 shares during the last quarter. TIAA Trust National Association lifted its holdings in Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after buying an additional 52 shares in the last quarter. Wellspring Financial Advisors LLC lifted its holdings in Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after buying an additional 52 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its position in Cintas by 7.7% in the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock valued at $146,000 after buying an additional 52 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTAS. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Morgan Stanley lifted their price objective on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. UBS Group upped 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. The Goldman Sachs Group raised their target price on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Truist Financial boosted their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cintas presently has an average rating of "Hold" and a consensus price target of $215.81.

Insider Transactions at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred 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 transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the company'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 transaction 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. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Cintas Trading Down 0.1%

NASDAQ:CTAS traded down $0.30 during trading hours on Wednesday, hitting $221.92. The stock had a trading volume of 444,774 shares, compared to its average volume of 1,693,849. The business's 50 day moving average is $213.38 and its 200-day moving average is $205.59. 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 company has a market cap of $89.61 billion, a price-to-earnings ratio of 53.51, a P/E/G ratio of 3.98 and a beta of 1.08. Cintas Co. has a one year low of $169.96 and a one year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. The company 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 firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.84 EPS. Sell-side analysts anticipate 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 issued a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas's dividend payout ratio (DPR) is currently 36.11%.

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.