Neuberger Berman Group LLC Cuts Stake in Cintas Co. (NASDAQ:CTAS)

Neuberger Berman Group LLC lessened its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 202,592 shares of the business services provider's stock after selling 11,847 shares during the quarter. Neuberger Berman Group LLC owned about 0.05% of Cintas worth $37,013,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in shares of Cintas in the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new position in Cintas in the 4th quarter worth about $29,000. Endeavor Private Wealth Inc. bought a new stake in Cintas in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC grew its position in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Cintas in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Insider Activity at Cintas

In related news, 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 of the company's stock, valued at $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 15.00% of the stock is owned by corporate insiders.

Cintas Price Performance

CTAS traded down $0.97 during trading on Wednesday, reaching $207.23. The company's stock had a trading volume of 451,910 shares, compared to its average volume of 1,690,621. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The company has a market cap of $83.68 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 3.98 and a beta of 1.20. The firm has a fifty day simple moving average of $201.32 and a two-hundred day simple moving average of $204.31. 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 (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the business earned $3.84 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 annualized dividend and a dividend yield of 0.75%. Cintas's dividend payout ratio is presently 36.11%.

Analysts Set New Price Targets

CTAS has been the topic of a number of research reports. UBS Group boosted their price objective on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. The Goldman Sachs Group increased their price objective on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Bank of America began coverage on shares of Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective for the company. 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. Finally, Robert W. Baird increased their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $213.62.

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.