Rhumbline Advisers Sells 2,533 Shares of Cintas Co. (NASDAQ:CTAS)

Rhumbline Advisers cut its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 728,809 shares of the business services provider's stock after selling 2,533 shares during the period. Rhumbline Advisers owned approximately 0.18% of Cintas worth $149,792,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cyrus J. Lawrence LLC purchased a new position in Cintas during the fourth quarter valued at $29,000. IAG Wealth Partners LLC lifted its position in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after buying an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas during the 4th quarter valued at about $34,000. Meeder Asset Management Inc. lifted its position in shares of Cintas by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after buying an additional 134 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Cintas during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Finally, Morgan Stanley boosted their price target on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $213.88.

Insider Buying and Selling

In related 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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly 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. 15.00% of the stock is owned by insiders.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded down $0.47 on Thursday, hitting $226.90. The company's stock had a trading volume of 1,285,634 shares, compared to its average volume of 1,693,393. Cintas Co. has a 12 month low of $169.46 and a 12 month high of $228.66. The company has a market capitalization of $91.62 billion, a price-to-earnings ratio of 54.71, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The stock's 50-day moving average is $212.32 and its two-hundred day moving average is $205.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its 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. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company posted $3.84 earnings per share. On average, equities research analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

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