Cintas Corporation (NASDAQ:CTAS) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 48.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,928 shares of the business services provider's stock after purchasing an additional 3,575 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Cintas were worth $2,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new position in Cintas in the 4th quarter worth $29,000. IAG Wealth Partners LLC boosted 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 worth $33,000 after acquiring an additional 104 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Cintas by 239.3% in the fourth 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. OFI Invest Asset Management bought a new position in shares of Cintas during the fourth quarter valued at $37,000. Finally, VSM Wealth Advisory LLC bought a new position in Cintas during the fourth quarter worth $40,000. Institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted 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 raised their price target on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Redburn Atlantic downgraded shares of 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. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Finally, Robert W. Baird boosted their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cintas has a consensus rating of "Hold" and an average price target of $215.81.

Insiders Place Their Bets

In other news, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was 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 directly owned 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Cintas Trading Up 1.0%

Shares of NASDAQ:CTAS traded up $2.12 during trading on Monday, hitting $222.87. 1,378,728 shares of the company's stock were exchanged, compared to its average volume of 1,664,854. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Cintas Corporation has a 1-year low of $172.20 and a 1-year high of $229.24. The firm has a 50-day moving average price of $218.64 and a two-hundred day moving average price of $205.59. The firm has a market cap of $89.99 billion, a P/E ratio of 51.62, a PEG ratio of 3.44 and a beta of 1.08.

Cintas Dividend Announcement

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

Cintas 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.