Moran Wealth Management LLC Sells 42,611 Shares of Cintas Corporation (NASDAQ:CTAS)

Moran Wealth Management LLC lowered its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 39.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 66,226 shares of the business services provider's stock after selling 42,611 shares during the quarter. Moran Wealth Management LLC's holdings in Cintas were worth $13,611,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after buying an additional 219,809 shares during the period. Invesco Ltd. lifted its stake in Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after acquiring an additional 296,059 shares during the period. Norges Bank bought a new position in Cintas in the 4th quarter worth $877,216,000. Northern Trust Corp lifted its position in shares of Cintas by 13.1% in the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after purchasing an additional 472,069 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after purchasing an additional 115,268 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of research analyst reports. 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 note on Thursday, May 1st. Truist Financial boosted their target price on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday, March 27th. Morgan Stanley upped their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. Finally, Robert W. Baird lifted their target price on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $215.81.

Insider Activity at Cintas

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

Cintas Stock Performance

Shares of NASDAQ CTAS traded down $0.21 during trading on Thursday, reaching $219.03. 112,958 shares of the company traded hands, compared to its average volume of 1,695,844. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $218.05 and a 200-day simple moving average of $205.51. Cintas Corporation has a 52-week low of $172.20 and a 52-week high of $229.24. The stock has a market capitalization of $88.44 billion, a PE ratio of 50.69, a P/E/G ratio of 3.48 and a beta of 1.07.

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

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

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.