Two Sigma Advisers LP Sells 18,400 Shares of Cintas Co. (NASDAQ:CTAS)

Two Sigma Advisers LP trimmed its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 66.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,200 shares of the business services provider's stock after selling 18,400 shares during the quarter. Two Sigma Advisers LP's holdings in Cintas were worth $1,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. Texas Bank & Trust Co bought a new stake in shares of Cintas during the 4th quarter valued at about $694,000. Teza Capital Management LLC purchased a new stake in Cintas during the fourth quarter valued at approximately $4,947,000. Tidal Investments LLC raised its position in Cintas by 418.3% in the fourth quarter. Tidal Investments LLC now owns 152,865 shares of the business services provider's stock worth $27,928,000 after acquiring an additional 123,373 shares during the period. State of Wyoming boosted its stake in shares of Cintas by 912.2% during the 4th quarter. State of Wyoming now owns 1,822 shares of the business services provider's stock worth $333,000 after acquiring an additional 1,642 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Cintas during the 4th quarter valued at $1,134,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Argus raised Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Morgan Stanley increased their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. The Goldman Sachs Group raised their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $213.88.

Insider Activity

In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction on 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 sale, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction on 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 directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents 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.

Cintas Price Performance

NASDAQ CTAS traded up $1.86 during trading on Friday, hitting $226.61. 2,393,633 shares of the stock traded hands, compared to its average volume of 1,697,585. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12-month low of $167.71 and a 12-month high of $228.12. The firm has a 50-day simple moving average of $210.54 and a 200-day simple moving average of $205.34. The company has a market capitalization of $91.50 billion, a P/E ratio of 54.64, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the previous year, the business posted $3.84 earnings per share. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

About Cintas

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.