Williams Jones Wealth Management LLC. Trims Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Williams Jones Wealth Management LLC. reduced its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,433 shares of the business services provider's stock after selling 2,473 shares during the period. Williams Jones Wealth Management LLC. owned 0.09% of Cintas worth $69,871,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CTAS. Barclays PLC increased its stake in Cintas by 340.1% in the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock worth $224,312,000 after buying an additional 841,952 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of Cintas by 18.2% in the fourth quarter. Brookstone Capital Management now owns 1,278 shares of the business services provider's stock worth $233,000 after acquiring an additional 197 shares during the period. Merit Financial Group LLC grew its position in shares of Cintas by 199.7% during the fourth quarter. Merit Financial Group LLC now owns 9,718 shares of the business services provider's stock worth $1,775,000 after purchasing an additional 6,475 shares in the last quarter. Finally, HB Wealth Management LLC grew its position in shares of Cintas by 1.9% during the fourth quarter. HB Wealth Management LLC now owns 6,800 shares of the business services provider's stock worth $1,242,000 after purchasing an additional 126 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 1.0%

NASDAQ CTAS opened at $223.03 on Tuesday. The stock has a market cap of $90.06 billion, a PE ratio of 53.77, a PEG ratio of 3.98 and a beta of 1.09. Cintas Co. has a 12 month low of $164.93 and a 12 month high of $228.12. The company's 50-day moving average price is $205.13 and its 200-day moving average price is $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.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The business 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%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $3.84 earnings per share. Equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a 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%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. 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, Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cintas currently has a consensus rating of "Hold" and a consensus target price of $213.88.

Insider Buying and Selling at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the company's 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 completion of the sale, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction on 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 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 position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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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