Cintas Corporation $CTAS Shares Sold by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC cut its position in shares of Cintas Corporation (NASDAQ:CTAS) by 51.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,451 shares of the business services provider’s stock after selling 4,673 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Cintas were worth $837,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Trust Advisors LP increased its position in Cintas by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after purchasing an additional 10,249 shares in the last quarter. Prana Capital Management LP purchased a new position in Cintas in the third quarter valued at approximately $14,312,000. Vanguard Group Inc. lifted its position in Cintas by 1.5% during the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after buying an additional 564,487 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Cintas during the fourth quarter worth approximately $15,736,000. Finally, Johnson Investment Counsel Inc. grew its stake in Cintas by 2.3% during the third quarter. Johnson Investment Counsel Inc. now owns 150,809 shares of the business services provider’s stock worth $30,955,000 after buying an additional 3,397 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $179.87 on Wednesday. The company has a market cap of $71.96 billion, a PE ratio of 50.81, a P/E/G ratio of 2.76 and a beta of 0.94. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $226.75. The firm has a 50-day simple moving average of $172.97 and a 200 day simple moving average of $184.39. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the company posted $1.13 earnings per share. Cintas’s revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s payout ratio is currently 50.85%.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the sale, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 14.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTAS. Citigroup lowered their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. UBS Group reaffirmed a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Bank of America started coverage on Cintas in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a report on Wednesday, March 11th. Finally, Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average target price of $215.17.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.