Nuveen Asset Management LLC Sells 111,974 Shares of Cintas Co. (NASDAQ:CTAS)

Nuveen Asset Management LLC trimmed its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,036,594 shares of the business services provider's stock after selling 111,974 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.26% of Cintas worth $189,386,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after acquiring an additional 468,950 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider's stock valued at $1,199,000 after purchasing an additional 1,450 shares during the last quarter. KMG Fiduciary Partners LLC increased its stake in Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider's stock valued at $2,109,000 after purchasing an additional 6,341 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Finally, Annex Advisory Services LLC increased its holdings in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider's stock worth $23,283,000 after buying an additional 1,988 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 1.0%

Cintas stock traded up $2.18 during mid-day trading on Monday, reaching $223.03. 1,137,063 shares of the company traded hands, compared to its average volume of 1,705,302. The firm's 50 day moving average price is $204.52 and its 200 day moving average price is $204.70. 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 firm has a market capitalization of $90.06 billion, a price-to-earnings ratio of 53.77, a P/E/G ratio of 3.98 and a beta of 1.09. Cintas Co. has a 52-week low of $164.93 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the firm earned $3.84 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Insider Buying and Selling at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction dated 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 directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CTAS. Bank of America began coverage on Cintas in a report on Thursday, April 10th. They issued 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 report on Thursday, May 1st. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Morgan Stanley increased their target price on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Finally, 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. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $213.88.

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.