Cintas Corporation $CTAS Stock Holdings Lowered by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC reduced its holdings in Cintas Corporation (NASDAQ:CTAS) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,729 shares of the business services provider’s stock after selling 331 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Cintas were worth $14,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. raised its holdings in shares of Cintas by 6.2% in the 1st quarter. Raymond James Financial Inc. now owns 559,772 shares of the business services provider’s stock worth $115,050,000 after purchasing an additional 32,774 shares in the last quarter. Progressive Investment Management Corp acquired a new stake in shares of Cintas during the first quarter valued at approximately $1,837,000. Nations Financial Group Inc. IA ADV raised its holdings in shares of Cintas by 1.8% during the first quarter. Nations Financial Group Inc. IA ADV now owns 25,749 shares of the business services provider’s stock valued at $5,292,000 after acquiring an additional 455 shares during the period. Ethic Inc. raised its holdings in shares of Cintas by 6.1% during the first quarter. Ethic Inc. now owns 68,233 shares of the business services provider’s stock valued at $14,184,000 after acquiring an additional 3,942 shares during the period. Finally, Element Capital Management LLC acquired a new stake in shares of Cintas during the first quarter valued at approximately $2,738,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $216.55 on Monday. The company’s 50 day moving average price is $220.86 and its 200 day moving average price is $212.20. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The company has a market capitalization of $87.26 billion, a PE ratio of 49.10, a PEG ratio of 3.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.99 earnings per share. Research analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a $0.45 dividend. This is a positive change from Cintas’s previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Cintas’s payout ratio is presently 40.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada restated a “sector perform” rating and set a $240.00 price target (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They set an “overweight” rating and a $239.00 price target on the stock. Redburn Atlantic lowered shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target on the stock. in a report on Thursday, May 1st. Robert W. Baird boosted their price target on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Cintas from $233.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $224.54.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total value of $1,136,121.48. Following the completion of the sale, the director directly owned 21,945 shares of the company’s stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares of the company’s stock, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Cintas 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.