Adage Capital Partners GP L.L.C. Sells 41,795 Shares of Cintas Co. (NASDAQ:CTAS)

Adage Capital Partners GP L.L.C. cut its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,205 shares of the business services provider's stock after selling 41,795 shares during the period. Adage Capital Partners GP L.L.C. owned 0.07% of Cintas worth $51,193,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CTAS. Barclays PLC raised its stake in shares of Cintas by 340.1% in the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock worth $224,312,000 after acquiring an additional 841,952 shares during the last quarter. Virtu Financial LLC lifted its holdings in Cintas by 168.1% during the 3rd quarter. Virtu Financial LLC now owns 14,468 shares of the business services provider's stock worth $2,979,000 after buying an additional 9,072 shares in the last quarter. Morse Asset Management Inc lifted its holdings in Cintas by 299.8% during the 3rd quarter. Morse Asset Management Inc now owns 21,229 shares of the business services provider's stock worth $4,371,000 after buying an additional 15,919 shares in the last quarter. Wealthquest Corp increased its stake in shares of Cintas by 285.9% in the 3rd quarter. Wealthquest Corp now owns 14,848 shares of the business services provider's stock valued at $3,027,000 after buying an additional 11,000 shares during the period. Finally, Anchor Investment Management LLC lifted its stake in shares of Cintas by 299.7% during the third quarter. Anchor Investment Management LLC now owns 2,294 shares of the business services provider's stock valued at $472,000 after acquiring an additional 1,720 shares during the period. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective for the company. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Argus upgraded Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Morgan Stanley upped their price target 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, UBS Group increased their price target 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $213.62.

Cintas Stock Down 0.1 %

CTAS traded down $0.12 during trading on Monday, hitting $208.28. The company had a trading volume of 1,716,069 shares, compared to its average volume of 1,697,450. The company has a market capitalization of $84.10 billion, a PE ratio of 50.22, a PEG ratio of 3.98 and a beta of 1.20. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a one year low of $162.16 and a one year high of $228.12. The firm's 50-day moving average price is $201.61 and its 200 day moving average price is $204.32.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the company posted $3.84 earnings per share. The company's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. Cintas's dividend payout ratio is 36.11%.

Insider Activity

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 transaction, the director now directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $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. 15.00% of the stock is owned by insiders.

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.