United Capital Financial Advisors LLC reduced its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 21.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,532 shares of the business services provider's stock after selling 20,345 shares during the quarter. United Capital Financial Advisors LLC's holdings in Cintas were worth $13,252,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of CTAS. Norges Bank bought a new stake in Cintas during the 4th quarter valued at $877,216,000. Franklin Resources Inc. lifted its position in shares of 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 acquiring an additional 2,379,932 shares in the last quarter. JPMorgan Chase & Co. lifted 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 worth $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Winslow Capital Management LLC acquired a new position in Cintas in the 4th quarter valued at approximately $196,057,000. Finally, Barclays PLC raised its holdings in shares of Cintas by 340.1% during 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 in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Robert W. Baird increased their price objective on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Royal Bank of Canada restated a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 price target on the stock. UBS Group increased their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $213.62.
Check Out Our Latest Research Report on CTAS
Insider Transactions at Cintas
In other news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.
Cintas Trading Up 0.5 %
Shares of NASDAQ:CTAS traded up $1.04 during midday trading on Friday, hitting $205.76. 1,712,106 shares of the stock traded hands, compared to its average volume of 1,703,246. The business's 50 day moving average is $201.42 and its two-hundred day moving average is $204.33. The stock has a market capitalization of $83.08 billion, a PE ratio of 49.61, a P/E/G 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.
Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.84 EPS. As a group, research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.
Cintas Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is 36.11%.
About Cintas
(
Free Report)
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.
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