Exchange Traded Concepts LLC Lowers Stock Position in Cintas Co. (NASDAQ:CTAS)

Exchange Traded Concepts LLC trimmed its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,210 shares of the business services provider's stock after selling 2,279 shares during the quarter. Exchange Traded Concepts LLC's holdings in Cintas were worth $4,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Cintas in the fourth quarter worth about $877,216,000. GAMMA Investing LLC boosted its position in shares of Cintas by 19,644.3% in the 1st quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after purchasing an additional 2,251,629 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Cintas in the 4th quarter worth approximately $196,057,000. Raymond James Financial Inc. bought a new position in Cintas during the 4th quarter valued at approximately $96,282,000. Finally, Northern Trust Corp increased its position in Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after buying an additional 472,069 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

NASDAQ CTAS opened at $221.98 on Monday. The stock has a market capitalization of $89.63 billion, a price-to-earnings ratio of 53.52, a PEG ratio of 3.98 and a beta of 1.07. Cintas Co. has a 1-year low of $172.20 and a 1-year high of $229.24. 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 business's fifty day moving average price is $215.30 and its 200-day moving average price is $205.42.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion for 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%. Cintas's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.84 earnings per share. On average, equities analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Insider Buying and Selling

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction 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 transaction, the director now owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the company'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 completion of the sale, 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 disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent research reports. Robert W. Baird increased their target price 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 raised their price objective on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. UBS Group lifted their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Morgan Stanley raised 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently 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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