Sumitomo Mitsui Trust Group Inc. Sells 43,415 Shares of Cintas Corporation $CTAS

Key Points

• Sumitomo Mitsui Trust Group Inc. cut its Cintas stake by 4.7% in the first quarter, selling 43,415 shares and ending with 872,529 shares valued at about $147.6 million.
• Other institutional investors showed mixed but often aggressive activity in Cintas, with several funds adding large positions; overall, institutions and hedge funds own 63.46% of the company.
• Cintas has seen notable insider selling and cautious analyst sentiment: Director Ronald W. Tysoe sold 4,666 shares, while analysts currently rate the stock Hold on average with a $211.25 price target.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 872,529 shares of the business services provider's stock after selling 43,415 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Cintas worth $147,580,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Cintas during the 4th quarter worth approximately $923,672,000. Two Sigma Investments LP grew its holdings in shares of Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider's stock valued at $208,682,000 after acquiring an additional 998,963 shares in the last quarter. SG Americas Securities LLC grew its stake in Cintas by 2,653.0% in the fourth quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider's stock valued at $188,640,000 after purchasing an additional 966,597 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in Cintas by 275.2% during the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider's stock worth $230,556,000 after buying an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP raised its holdings in shares of Cintas by 5,341.8% in the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider's stock valued at $153,352,000 after purchasing an additional 733,380 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 14.90% of the company's stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $177.69 on Friday. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $226.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The company has a 50 day simple moving average of $173.07 and a two-hundred day simple moving average of $182.71. The company has a market capitalization of $71.09 billion, a PE ratio of 50.19, a P/E/G ratio of 2.87 and a beta of 0.94.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas's dividend payout ratio is 50.85%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price target on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research note on Tuesday, March 31st. Stifel Nicolaus dropped their price target on shares of Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. Bank of America cut their price objective on shares of Cintas from $215.00 to $200.00 and set a "neutral" rating for the company in a research report on Monday, June 29th. Weiss Ratings downgraded Cintas from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Finally, UBS Group restated a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $211.25.

Cintas Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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