Redwood Investments LLC Sells 12,332 Shares of Cintas Co. (NASDAQ:CTAS)

Redwood Investments LLC reduced its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 52.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,258 shares of the business services provider's stock after selling 12,332 shares during the quarter. Redwood Investments LLC's holdings in Cintas were worth $2,057,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cintas during the 4th quarter valued at about $877,216,000. JPMorgan Chase & Co. increased its position 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 valued at $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Winslow Capital Management LLC bought a new position in shares of Cintas during the 4th quarter valued at about $196,057,000. Barclays PLC increased its position in shares of Cintas by 340.1% during the 3rd 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% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,285 shares of the business services provider's stock valued at $112,778,000 after purchasing an additional 595,469 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Jim Rozakis sold 2,000 shares of the firm'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 value of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This trade represents a 23.97% 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 Trading Up 1.0%

NASDAQ CTAS traded up $2.18 on Monday, hitting $223.03. The company's stock had a trading volume of 1,137,063 shares, compared to its average volume of 1,705,302. Cintas Co. has a 52-week low of $164.93 and a 52-week high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company's 50-day simple moving average is $204.52 and its 200 day simple moving average is $204.70. The firm has a market cap of $90.06 billion, a P/E ratio of 53.77, a PEG ratio of 3.98 and a beta of 1.09.

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 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 business had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter last year, the business posted $3.84 EPS. The business's revenue was up 8.4% on a year-over-year basis. Research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's payout ratio is presently 36.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CTAS shares. Morgan Stanley increased their price objective on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their price target on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Truist Financial raised 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. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Three 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 company's stock. According to data from MarketBeat.com, Cintas 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.