Cintas Co. (NASDAQ:CTAS) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC trimmed its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 93.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,654 shares of the business services provider's stock after selling 25,643 shares during the quarter. Western Wealth Management LLC's holdings in Cintas were worth $302,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CTAS. Sound Income Strategies LLC acquired a new stake in Cintas in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in Cintas in the fourth quarter valued at $29,000. IAG Wealth Partners LLC lifted its holdings in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas in the 4th quarter valued at about $34,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Trading Up 1.6%

Shares of CTAS stock traded up $3.59 during mid-day trading on Tuesday, hitting $225.88. 1,603,808 shares of the company's stock were exchanged, compared to its average volume of 1,705,864. Cintas Co. has a fifty-two week low of $164.93 and a fifty-two week high of $228.12. The stock has a 50-day simple moving average of $207.97 and a two-hundred day simple moving average of $205.04. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $91.21 billion, a price-to-earnings ratio of 54.46, a PEG 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, beating analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $3.84 EPS. Equities analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a $0.39 dividend. 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 is currently 36.11%.

Analysts Set New Price Targets

Several research firms recently weighed in on CTAS. Bank of America began coverage on Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research note on Thursday, May 1st. Citigroup started coverage on Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. Robert W. Baird raised their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Truist Financial lifted their price target on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $213.88.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly 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. 15.00% of the stock is currently owned by company insiders.

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.