Secure Asset Management LLC Sells 1,268 Shares of Cintas Co. (NASDAQ:CTAS)

Secure Asset Management LLC trimmed its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 54.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,044 shares of the business services provider's stock after selling 1,268 shares during the quarter. Secure Asset Management LLC's holdings in Cintas were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cyrus J. Lawrence LLC purchased a new stake in Cintas during the 4th quarter valued at about $29,000. IAG Wealth Partners LLC grew its position in 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 purchasing an additional 104 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas during the 4th quarter valued at about $34,000. Meeder Asset Management Inc. boosted its holdings 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 acquiring an additional 134 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Cintas during the 4th quarter valued at about $37,000. 63.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. This represents a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Cintas Stock Down 0.2%

NASDAQ:CTAS opened at $226.90 on Friday. Cintas Co. has a 1-year low of $169.46 and a 1-year high of $228.66. The company has a 50-day moving average of $212.32 and a 200 day moving average of $205.59. The firm has a market cap of $91.62 billion, a PE ratio of 54.71, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

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 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 17.23% and a return on equity of 40.62%. The firm's revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.84 earnings per share. As a group, research analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio is presently 36.11%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent analyst reports. UBS Group raised 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. Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 price target on shares of Cintas in a 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. Finally, Truist Financial raised 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $213.88.

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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