MinichMacGregor Wealth Management LLC trimmed its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 34.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,156 shares of the business services provider's stock after selling 14,474 shares during the period. MinichMacGregor Wealth Management LLC's holdings in Cintas were worth $5,787,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in shares of Cintas by 26.7% in the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock worth $407,163,000 after buying an additional 468,950 shares during the last quarter. Alpine Global Management LLC acquired a new stake in Cintas during the fourth quarter worth about $284,000. Treasurer of the State of North Carolina lifted its holdings in Cintas by 12.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider's stock worth $31,092,000 after acquiring an additional 18,620 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Cintas by 97.6% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider's stock worth $1,365,000 after acquiring an additional 3,690 shares during the last quarter. Finally, Schulhoff & Co. Inc. acquired a new position in Cintas in the fourth quarter valued at approximately $258,000. 63.46% of the stock is owned by institutional investors.
Cintas Stock Down 0.8%
Cintas stock opened at $218.65 on Friday. Cintas Corporation has a 52 week low of $172.20 and a 52 week high of $229.24. The stock has a market cap of $88.29 billion, a price-to-earnings ratio of 50.64, a PEG ratio of 3.41 and a beta of 1.07. The company's 50-day moving average price is $217.23 and its two-hundred day moving average price is $205.44. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.
Cintas (NASDAQ:CTAS - Get Free Report) last posted 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. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The business had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same period last year, the firm posted $3.84 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. On average, analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.
Cintas Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. Cintas's dividend payout ratio (DPR) is 36.11%.
Analyst Ratings Changes
CTAS has been the topic of a number of research reports. Argus upgraded Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Citigroup started coverage on Cintas in a research report on Monday, February 24th. They issued a "sell" rating and a $161.00 target price on the stock. Bank of America started coverage on shares of Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target for the company. The Goldman Sachs Group upped 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. Finally, 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 report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cintas presently has a consensus rating of "Hold" and an average target price of $215.81.
Check Out Our Latest Analysis on Cintas
Insider Activity at Cintas
In related news, COO Jim Rozakis sold 2,000 shares of the business'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 value of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the 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 sale, the director now directly owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.
Cintas Profile
(
Free Report)
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.
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