Mercer Global Advisors Inc. ADV Lowers Stock Position in Cintas Co. (NASDAQ:CTAS)

Mercer Global Advisors Inc. ADV trimmed its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,212 shares of the business services provider's stock after selling 3,865 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Cintas were worth $4,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Cintas during the fourth quarter worth approximately $877,216,000. JPMorgan Chase & Co. grew its stake in shares of Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of Cintas during the 4th quarter valued at approximately $196,057,000. Barclays PLC grew its holdings in Cintas by 340.1% in the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock valued at $224,312,000 after purchasing an additional 841,952 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Cintas by 2,729.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,285 shares of the business services provider's stock valued at $112,778,000 after buying an additional 595,469 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Activity at Cintas

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 directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. This represents a 23.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This represents a 0.77 % 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.

Cintas Stock Performance

Cintas stock opened at $211.82 on Tuesday. The company has a market cap of $85.53 billion, a price-to-earnings ratio of 51.07, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. Cintas Co. has a 12 month low of $164.93 and a 12 month high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock's 50-day moving average is $202.21 and its 200-day moving average is $204.26.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating 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 firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the firm posted $3.84 earnings per share. Cintas's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current 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 given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is 36.11%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They issued a "sell" rating and a $161.00 target price for the company. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Finally, UBS Group boosted their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Three equities research 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. According to data from MarketBeat.com, Cintas 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.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.