Laird Norton Wetherby Wealth Management LLC Sells 212 Shares of Cintas Co. (NASDAQ:CTAS)

Laird Norton Wetherby Wealth Management LLC lowered its position in Cintas Co. (NASDAQ:CTAS) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,305 shares of the business services provider’s stock after selling 212 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Cintas were worth $969,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CTAS. Barclays PLC boosted its stake in Cintas by 340.1% during 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 in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cintas by 137.5% in 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 in the last quarter. Brookstone Capital Management boosted its position in shares of Cintas by 18.2% during the 4th quarter. Brookstone Capital Management now owns 1,278 shares of the business services provider’s stock valued at $233,000 after acquiring an additional 197 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Cintas during the 4th quarter valued at about $319,000. Finally, Signal Advisors Wealth LLC increased its stake in Cintas by 19.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,612 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 261 shares during the period. Institutional investors own 63.46% of the company’s stock.

Insider Transactions at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated 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 completion of the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, 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 disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of analyst reports. Truist Financial raised their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. The Goldman Sachs Group increased their target price on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Argus upgraded Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. Morgan Stanley boosted their price target on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company increased their price objective on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $213.88.

Cintas Stock Performance

Cintas stock opened at $214.19 on Thursday. The stock has a 50-day simple moving average of $203.67 and a 200 day simple moving average of $204.58. The stock has a market capitalization of $86.49 billion, a price-to-earnings ratio of 51.64, a P/E/G ratio of 3.98 and a beta of 1.09. 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 12-month low of $164.93 and a 12-month high of $228.12.

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

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

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.