Cintas Corporation (NASDAQ:CTAS) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 908,994 shares of the business services provider's stock after selling 24,457 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Cintas worth $186,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cyrus J. Lawrence LLC bought a new position in Cintas in the fourth quarter worth approximately $29,000. IAG Wealth Partners LLC lifted its position in Cintas by 136.8% during the fourth 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 in the last quarter. Meeder Asset Management Inc. grew its holdings in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares during the period. OFI Invest Asset Management purchased a new stake in Cintas in the fourth quarter worth about $37,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Cintas in the fourth quarter worth about $40,000. Institutional investors own 63.46% of the company's stock.

Insiders Place Their Bets

In other news, COO Jim Rozakis sold 2,000 shares of the 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 transaction, the chief operating officer owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated 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 transaction, the director owned 27,029 shares in the company, valued at approximately $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. Insiders own 15.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Argus raised shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $196.00 to $221.00 in a report on Tuesday. Robert W. Baird upped their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Truist Financial lifted 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. Finally, Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $219.58.

Cintas Trading Down 3.9%

Shares of CTAS traded down $8.65 during trading hours on Wednesday, reaching $215.66. 2,708,071 shares of the company traded hands, compared to its average volume of 1,667,930. The stock's fifty day moving average price is $219.46 and its 200 day moving average price is $205.80. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The firm has a market cap of $87.08 billion, a price-to-earnings ratio of 49.95, a PEG ratio of 3.48 and a beta of 1.05. Cintas Corporation has a 12-month low of $172.20 and a 12-month high of $229.24.

Cintas Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio (DPR) 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.