Ascent Group LLC Reduces Position in Cintas Co. (NASDAQ:CTAS)

Ascent Group LLC lowered its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,518 shares of the business services provider's stock after selling 1,154 shares during the period. Ascent Group LLC's holdings in Cintas were worth $4,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CTAS. Value Partners Investments Inc. boosted its position in Cintas by 3.5% during the fourth quarter. Value Partners Investments Inc. now owns 12,024 shares of the business services provider's stock worth $2,195,000 after acquiring an additional 403 shares during the last quarter. Montchanin Asset Management LLC boosted its position in Cintas by 0.4% during the fourth quarter. Montchanin Asset Management LLC now owns 26,278 shares of the business services provider's stock worth $4,801,000 after acquiring an additional 100 shares during the last quarter. Three Cord True Wealth Management LLC acquired a new position in Cintas during the fourth quarter worth about $955,000. GF Fund Management CO. LTD. acquired a new position in Cintas during the fourth quarter worth about $13,964,000. Finally, Parr Mcknight Wealth Management Group LLC acquired a new position in Cintas during the fourth quarter worth about $2,584,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Activity

In related news, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. This represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares in the company, valued at approximately $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. Insiders own 15.00% of the company's stock.

Cintas Trading Down 0.4%

Shares of Cintas stock traded down $0.80 on Wednesday, reaching $225.08. The company had a trading volume of 993,109 shares, compared to its average volume of 1,702,610. The firm's 50 day moving average price is $208.60 and its two-hundred day moving average price is $205.19. The firm has a market cap of $90.88 billion, a PE ratio of 54.27, a PEG ratio of 3.98 and a beta of 1.09. Cintas Co. has a 52-week low of $164.93 and a 52-week high of $228.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is 36.11%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 target price on the stock. Finally, Bank of America started coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cintas has an average 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.