Cintas Corporation (NASDAQ:CTAS) Shares Sold by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. lowered its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 16.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,150 shares of the business services provider's stock after selling 1,200 shares during the quarter. Etesian Wealth Advisors Inc.'s holdings in Cintas were worth $1,264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alta Wealth Advisors LLC acquired a new position in Cintas in the first quarter valued at approximately $229,000. PDS Planning Inc raised its holdings in Cintas by 3.2% during the first quarter. PDS Planning Inc now owns 2,459 shares of the business services provider's stock worth $505,000 after purchasing an additional 77 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in shares of Cintas during the 1st quarter worth approximately $206,000. KPP Advisory Services LLC boosted its holdings in shares of Cintas by 6.7% in the 1st quarter. KPP Advisory Services LLC now owns 2,010 shares of the business services provider's stock valued at $413,000 after buying an additional 127 shares in the last quarter. Finally, Western Financial Corp CA grew its position in shares of Cintas by 11.7% in the 1st quarter. Western Financial Corp CA now owns 13,417 shares of the business services provider's stock valued at $2,758,000 after buying an additional 1,401 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Trading Up 0.5%

Shares of CTAS stock opened at $220.44 on Friday. The company has a market capitalization of $89.01 billion, a P/E ratio of 51.06, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The business's 50 day moving average is $218.34 and its two-hundred day moving average is $205.60. Cintas Corporation has a twelve month low of $172.20 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the company earned $3.84 earnings per share. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. Cintas's payout ratio is currently 36.11%.

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction dated 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target 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. Wells Fargo & Company lifted their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Redburn Atlantic cut 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. Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 price target (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Finally, Bank of America began coverage on Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective for the company. Three investment 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $215.81.

Cintas Company Profile

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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