Belpointe Asset Management LLC Sells 1,833 Shares of Cintas Co. (NASDAQ:CTAS)

Belpointe Asset Management LLC decreased its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 75.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 601 shares of the business services provider's stock after selling 1,833 shares during the period. Belpointe Asset Management LLC's holdings in Cintas were worth $110,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after acquiring an additional 219,809 shares in the last quarter. Invesco Ltd. lifted its position in shares of Cintas by 6.1% during the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after buying an additional 296,059 shares during the period. Norges Bank bought a new position in shares of Cintas during the 4th quarter worth approximately $877,216,000. Franklin Resources Inc. boosted its stake in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock valued at $693,503,000 after buying an additional 2,379,932 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after acquiring an additional 1,286,668 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CTAS shares. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Robert W. Baird upped their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Bank of America started coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Truist Financial upped their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $213.62.

Cintas Trading Up 1.3 %

Cintas stock traded up $2.76 during trading hours on Wednesday, reaching $208.60. 444,455 shares of the company's stock traded hands, compared to its average volume of 1,697,660. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The firm has a market capitalization of $84.23 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 3.98 and a beta of 1.20. The firm's 50 day moving average is $201.33 and its 200-day moving average is $204.30.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the company posted $3.84 EPS. The company's revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. 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 payout ratio is presently 36.11%.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the 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 directly owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now owns 256,528 shares in the company, 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. Corporate insiders own 15.00% of the company's stock.

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.