Franklin Street Advisors Inc. NC Sells 8,767 Shares of Cintas Co. (NASDAQ:CTAS)

Franklin Street Advisors Inc. NC reduced its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,265 shares of the business services provider's stock after selling 8,767 shares during the period. Cintas accounts for approximately 1.4% of Franklin Street Advisors Inc. NC's investment portfolio, making the stock its 27th biggest position. Franklin Street Advisors Inc. NC's holdings in Cintas were worth $19,785,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CTAS. Brighton Jones LLC grew its holdings in Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after buying an additional 108 shares in the last quarter. Empowered Funds LLC raised its position in shares of Cintas by 29.5% in the fourth quarter. Empowered Funds LLC now owns 24,634 shares of the business services provider's stock valued at $4,501,000 after buying an additional 5,606 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Cintas by 4.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 12,137 shares of the business services provider's stock valued at $2,217,000 after buying an additional 565 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Cintas during the 4th quarter worth $34,000. Finally, Savant Capital LLC raised its holdings in Cintas by 5.6% in the 4th quarter. Savant Capital LLC now owns 11,625 shares of the business services provider's stock valued at $2,124,000 after acquiring an additional 615 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. This represents 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 this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following 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 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.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. Truist Financial increased their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research note on Thursday, May 1st. Bank of America began coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price for the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 price target (up previously from $215.00) on shares of Cintas in a research report on Monday. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $215.81.

Cintas Price Performance

CTAS stock traded up $0.54 during midday trading on Thursday, reaching $222.26. 506,242 shares of the stock were exchanged, compared to its average volume of 1,696,514. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market capitalization of $89.75 billion, a PE ratio of 53.59, a P/E/G ratio of 3.98 and a beta of 1.08. Cintas Co. has a 52 week low of $170.93 and a 52 week high of $229.24. The company has a fifty day moving average price of $214.01 and a 200 day moving average price of $205.71.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.84 earnings per share. 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 given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 15th. 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.