Cintas Co. (NASDAQ:CTAS) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co cut its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 28.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,109 shares of the business services provider's stock after selling 2,487 shares during the period. Meiji Yasuda Life Insurance Co's holdings in Cintas were worth $1,116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Guardian Wealth Advisors LLC grew its holdings in shares of Cintas by 3.1% during the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock worth $318,000 after buying an additional 52 shares in the last quarter. MGB Wealth Management LLC grew its stake in Cintas by 0.7% during the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock valued at $1,328,000 after acquiring an additional 52 shares in the last quarter. TIAA Trust National Association raised its holdings in Cintas by 1.0% in the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock valued at $983,000 after acquiring an additional 52 shares during the last quarter. Wellspring Financial Advisors LLC lifted its stake in Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after purchasing an additional 52 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its holdings in shares of Cintas by 7.7% during the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock worth $146,000 after purchasing an additional 52 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Bank of America began coverage on Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price for the company. Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 price target on the stock. Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Finally, Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $213.88.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction that occurred 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 owns 27,029 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Trading Up 0.1 %

NASDAQ CTAS traded up $0.27 on Monday, reaching $211.82. The stock had a trading volume of 1,069,107 shares, compared to its average volume of 1,697,798. 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 fifty day moving average price of $202.21 and a two-hundred day moving average price of $204.26. Cintas Co. has a 12-month low of $164.93 and a 12-month high of $228.12. The firm has a market capitalization of $85.53 billion, a price-to-earnings ratio of 51.07, a P/E/G ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the business earned $3.84 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal 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 issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is currently 36.11%.

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.