Contravisory Investment Management Inc. Sells 2,550 Shares of Cintas Co. (NASDAQ:CTAS)

Contravisory Investment Management Inc. trimmed its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,962 shares of the business services provider's stock after selling 2,550 shares during the period. Cintas comprises 2.3% of Contravisory Investment Management Inc.'s portfolio, making the stock its 3rd biggest holding. Contravisory Investment Management Inc.'s holdings in Cintas were worth $11,091,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in 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 purchasing an additional 468,950 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after buying an additional 1,286,668 shares in the last quarter. Alpine Global Management LLC purchased a new position in shares of Cintas in the fourth quarter worth $284,000. Treasurer of the State of North Carolina grew its stake in Cintas by 12.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider's stock valued at $31,092,000 after acquiring an additional 18,620 shares in the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Cintas in the fourth quarter worth about $512,000. 63.46% of the stock is currently owned by institutional investors.

Insider Activity

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the firm's 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 sale, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Cintas Trading Down 0.2%

Shares of NASDAQ:CTAS traded down $0.47 during mid-day trading on Thursday, reaching $226.90. 1,285,634 shares of the company were exchanged, compared to its average volume of 1,691,414. Cintas Co. has a 1 year low of $169.46 and a 1 year high of $228.80. 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 firm's 50-day simple moving average is $211.89 and its 200 day simple moving average is $205.52. The firm has a market cap of $91.62 billion, a price-to-earnings ratio of 54.71, a P/E/G ratio of 3.98 and a beta of 1.09.

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

Cintas Announces Dividend

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

Analysts Set New Price Targets

CTAS has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Morgan Stanley upped their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.