Renaissance Group LLC Sells 2,788 Shares of Cintas Co. (NASDAQ:CTAS)

Renaissance Group LLC decreased its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,659 shares of the business services provider's stock after selling 2,788 shares during the period. Renaissance Group LLC's holdings in Cintas were worth $30,083,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of 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 worth $1,544,822,000 after acquiring an additional 219,809 shares in the last quarter. Invesco Ltd. boosted its holdings in Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after purchasing an additional 296,059 shares during the last quarter. Norges Bank purchased a new position in Cintas during the fourth quarter worth about $877,216,000. Franklin Resources Inc. grew its position 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 worth $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Cintas by 137.5% in 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 buying an additional 1,286,668 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of Cintas 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 transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.00% of the company's stock.

Cintas Trading Up 1.6 %

Shares of Cintas stock traded up $3.31 on Friday, hitting $206.04. The stock had a trading volume of 2,116,050 shares, compared to its average volume of 1,693,472. 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 stock's 50-day simple moving average is $201.09 and its two-hundred day simple moving average is $204.23. The stock has a market cap of $83.20 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.84 earnings per share. As a group, sell-side analysts predict 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. Shareholders of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Wells Fargo & Company upped their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. UBS Group raised their target price on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird increased their price target on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group raised their target price on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cintas currently has a consensus rating of "Hold" and a consensus target price of $213.62.

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.