Cintas Corporation $CTAS Shares Sold by RB Capital Management LLC

RB Capital Management LLC decreased its holdings in Cintas Corporation (NASDAQ:CTAS) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,422 shares of the business services provider’s stock after selling 3,049 shares during the quarter. RB Capital Management LLC’s holdings in Cintas were worth $2,524,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Cintas by 2.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider’s stock worth $20,501,000 after acquiring an additional 2,628 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Cintas by 2.5% in the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after acquiring an additional 10,249 shares in the last quarter. Prana Capital Management LP acquired a new position in shares of Cintas in the third quarter worth about $14,312,000. Vanguard Group Inc. lifted its stake in shares of Cintas by 1.5% in the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after acquiring an additional 564,487 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Cintas in the fourth quarter worth about $15,736,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several recent analyst reports. Stifel Nicolaus cut their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. UBS Group restated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Argus upgraded Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 11th. Finally, Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $215.17.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.90% of the company’s stock.

Cintas Trading Down 1.8%

Shares of NASDAQ CTAS opened at $166.97 on Friday. The stock’s 50 day moving average price is $181.83 and its two-hundred day moving average price is $186.85. Cintas Corporation has a 52-week low of $165.46 and a 52-week high of $229.24. The stock has a market capitalization of $66.80 billion, a P/E ratio of 47.17, a PEG ratio of 2.99 and a beta of 0.96. 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 announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 earnings per share. On average, analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. Cintas’s dividend payout ratio is 50.85%.

About Cintas

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.