3,051 Shares in Cintas Corporation (NASDAQ:CTAS) Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,051 shares of the business services provider's stock, valued at approximately $627,000.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. MJP Associates Inc. ADV boosted its holdings in Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after acquiring an additional 50 shares during the period. TIAA Trust National Association boosted its stake in shares of Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock valued at $983,000 after purchasing an additional 52 shares during the period. Wellspring Financial Advisors LLC grew its holdings in shares of Cintas by 4.6% in the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after purchasing an additional 52 shares in the last quarter. Johnson Financial Group Inc. increased its stake in Cintas by 7.7% during the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock worth $146,000 after buying an additional 52 shares during the period. Finally, Portside Wealth Group LLC increased its stake in Cintas by 4.2% during the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider's stock worth $270,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was 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 of the company's stock, valued at approximately $5,647,979.84. This trade represents a 23.97% 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, COO Jim Rozakis sold 2,000 shares of the firm's 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 completion of the sale, the chief operating officer now 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. Corporate insiders own 15.00% of the company's stock.

Analyst Ratings Changes

CTAS has been the subject of several research reports. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a "sell" rating and a $161.00 price target for the company. Argus raised Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Robert W. Baird lifted their price objective on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Finally, Morgan Stanley upped their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Three 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, the company presently has a consensus rating of "Hold" and an average target price of $215.81.

Cintas Stock Down 0.8%

Shares of Cintas stock traded down $1.77 during trading hours on Friday, hitting $218.65. The company had a trading volume of 2,667,477 shares, compared to its average volume of 1,706,717. 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 company's 50-day moving average is $216.98 and its two-hundred day moving average is $205.59. The company has a market cap of $88.29 billion, a P/E ratio of 50.64, a price-to-earnings-growth ratio of 3.44 and a beta of 1.07. Cintas Corporation has a twelve month low of $172.20 and a twelve month high of $229.24.

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

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio is currently 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.