GeoWealth Management LLC Sells 994 Shares of Cintas Co. (NASDAQ:CTAS)

GeoWealth Management LLC cut its holdings in Cintas Co. (NASDAQ:CTAS) by 40.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,486 shares of the business services provider’s stock after selling 994 shares during the quarter. GeoWealth Management LLC’s holdings in Cintas were worth $271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Broadleaf Partners LLC increased its holdings in shares of Cintas by 77.3% during the fourth quarter. Broadleaf Partners LLC now owns 30,320 shares of the business services provider’s stock worth $5,539,000 after buying an additional 13,222 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Cintas by 66.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 22,048 shares of the business services provider’s stock valued at $4,028,000 after purchasing an additional 8,827 shares during the last quarter. Foster Dykema Cabot & Partners LLC boosted its stake in shares of Cintas by 4.2% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 147,364 shares of the business services provider’s stock valued at $26,923,000 after purchasing an additional 5,995 shares in the last quarter. Farringdon Capital Ltd. bought a new stake in shares of Cintas during the fourth quarter worth about $509,000. Finally, Zacks Investment Management increased its stake in shares of Cintas by 14.1% in the fourth quarter. Zacks Investment Management now owns 243,183 shares of the business services provider’s stock valued at $44,430,000 after buying an additional 30,134 shares during the period. Institutional investors own 63.46% of the company’s stock.

Insider Activity at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at $48,835,235.36. This represents a 0.77 % 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, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Trading Up 2.7 %

NASDAQ CTAS opened at $205.84 on Wednesday. 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 52 week low of $162.16 and a 52 week high of $228.12. The business has a 50 day moving average price of $201.33 and a 200-day moving average price of $204.30. The company has a market cap of $83.12 billion, a price-to-earnings ratio of 49.63, a P/E/G ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last released 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm earned $3.84 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas’s dividend payout ratio is presently 36.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday, March 27th. Bank of America began coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 target price for the company. Citigroup assumed coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Robert W. Baird lifted their price objective on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Finally, Argus raised shares of Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $213.62.

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.