Vident Advisory LLC Cuts Stock Position in Cintas Co. (NASDAQ:CTAS)

Vident Advisory LLC lessened its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,749 shares of the business services provider's stock after selling 3,786 shares during the period. Vident Advisory LLC's holdings in Cintas were worth $8,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Cintas by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after purchasing an additional 219,809 shares during the last quarter. Invesco Ltd. grew its stake in Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after purchasing an additional 296,059 shares during the last quarter. Norges Bank acquired a new stake in Cintas in the fourth quarter worth about $877,216,000. Northern Trust Corp boosted its holdings in Cintas by 13.1% in the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after acquiring an additional 472,069 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after acquiring an additional 115,268 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Up 1.0%

Shares of CTAS stock opened at $223.03 on Tuesday. The stock has a 50 day moving average of $205.13 and a 200 day moving average of $204.82. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $90.06 billion, a P/E ratio of 53.77, a P/E/G ratio of 3.98 and a beta of 1.09. Cintas Co. has a twelve month low of $164.93 and a twelve month high of $228.12.

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, beating the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $3.84 earnings per share. As a group, sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Insider Activity

In related news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 27,029 shares of the company's stock, 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. Company insiders own 15.00% of the company's stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several recent analyst reports. Truist Financial raised their price target on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Robert W. Baird lifted their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Citigroup started coverage on Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. Bank of America started coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Finally, The Goldman Sachs Group lifted their target price on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $213.88.

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.

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