Cintas Corporation (NASDAQ:CTAS) Shares Sold by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC cut its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 66.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 667 shares of the business services provider's stock after selling 1,318 shares during the period. Stonebridge Financial Group LLC's holdings in Cintas were worth $137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. Cyrus J. Lawrence LLC purchased a new position in shares of Cintas during the 4th quarter valued at approximately $29,000. IAG Wealth Partners LLC raised its position in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after acquiring an additional 104 shares during the period. Meeder Asset Management Inc. lifted its holdings in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Cintas in the fourth quarter valued at about $37,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Cintas in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the 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 transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value 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 trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Cintas Price Performance

Cintas stock opened at $220.75 on Monday. The firm has a market capitalization of $89.14 billion, a PE ratio of 51.13, a P/E/G ratio of 3.44 and a beta of 1.08. Cintas Corporation has a 52 week low of $172.20 and a 52 week high of $229.24. The firm's 50-day simple moving average is $218.64 and its 200 day simple moving average is $205.59. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders 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 dividend on an annualized basis and a yield of 0.71%. Cintas's dividend payout ratio (DPR) is 36.11%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird boosted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. The Goldman Sachs Group increased their price objective on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective on the stock. Truist Financial upped their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cintas currently has an average rating of "Hold" and a consensus target price of $215.81.

Cintas 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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