Curi RMB Capital LLC Cuts Stake in Cintas Co. (NASDAQ:CTAS)

Curi RMB Capital LLC decreased its stake in Cintas Co. (NASDAQ:CTAS) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,739 shares of the business services provider’s stock after selling 541 shares during the period. Curi RMB Capital LLC’s holdings in Cintas were worth $318,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CTAS. Norges Bank purchased a new stake in shares of Cintas during the fourth quarter worth about $877,216,000. Franklin Resources Inc. raised 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 purchasing an additional 2,379,932 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cintas by 137.5% during 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. Winslow Capital Management LLC acquired a new stake in shares of Cintas during the fourth quarter worth approximately $196,057,000. Finally, Barclays PLC increased 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 buying an additional 841,952 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CTAS shares. The Goldman Sachs Group boosted their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. UBS Group lifted their target price on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. 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 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 target price for the company. Finally, Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $213.62.

Cintas Stock Down 2.6 %

CTAS opened at $200.41 on Tuesday. The stock’s 50 day moving average price is $201.34 and its 200 day moving average price is $204.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market cap of $80.92 billion, a P/E ratio of 48.32, a P/E/G ratio of 3.98 and a beta of 1.20. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12.

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

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid 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 dividend yield of 0.78%. Cintas’s dividend payout ratio is presently 36.11%.

Insider Buying and Selling

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The stock was 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 in the company, valued at $5,647,979.84. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate 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.