Lecap Asset Management Ltd. Trims Stake in Cintas Corporation (NASDAQ:CTAS)

Lecap Asset Management Ltd. lowered its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 44.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,245 shares of the business services provider's stock after selling 8,936 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Cintas were worth $2,311,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Global Assets Advisory LLC purchased a new position in shares of Cintas during the 1st quarter valued at $462,000. Field & Main Bank raised its holdings in Cintas by 39.6% during the first quarter. Field & Main Bank now owns 363 shares of the business services provider's stock valued at $75,000 after acquiring an additional 103 shares during the period. Keudell Morrison Wealth Management purchased a new position in shares of Cintas in the first quarter valued at about $224,000. Consolidated Portfolio Review Corp boosted its stake in shares of Cintas by 5.1% in the first quarter. Consolidated Portfolio Review Corp now owns 3,342 shares of the business services provider's stock worth $687,000 after acquiring an additional 161 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in shares of Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after purchasing an additional 181 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CTAS shares. Robert W. Baird boosted their price target on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price target (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Finally, Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cintas currently has a consensus rating of "Hold" and a consensus target price of $215.81.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm'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 transaction, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

Cintas Trading Up 0.1%

Shares of Cintas stock traded up $0.18 during trading on Thursday, hitting $219.42. The stock had a trading volume of 152,821 shares, compared to its average volume of 1,695,978. Cintas Corporation has a 12 month low of $172.20 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The firm's fifty day simple moving average is $218.05 and its 200-day simple moving average is $205.51. The stock has a market cap of $88.60 billion, a PE ratio of 50.84, a PEG ratio of 3.48 and a beta of 1.07.

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 for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the company posted $3.84 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared 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 of this dividend was Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. Cintas's payout ratio is 36.11%.

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.