Nichols & Pratt Advisers LLP MA Trims Holdings in Cintas Corporation (NASDAQ:CTAS)

Nichols & Pratt Advisers LLP MA cut its holdings in Cintas Corporation (NASDAQ:CTAS) by 10.9% during the first quarter, Holdings Channel reports. The institutional investor owned 1,425 shares of the business services provider’s stock after selling 175 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Cintas were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTAS. MJP Associates Inc. ADV grew its holdings in shares of Cintas by 2.1% in the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after purchasing an additional 50 shares in the last quarter. TIAA Trust National Association raised its stake in shares of Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after acquiring an additional 52 shares during the period. Wellspring Financial Advisors LLC raised its stake in shares of Cintas by 4.6% in the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after acquiring an additional 52 shares during the period. Johnson Financial Group Inc. raised its stake in shares of Cintas by 7.7% in the fourth quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider’s stock valued at $146,000 after acquiring an additional 52 shares during the period. Finally, Portside Wealth Group LLC raised its stake in shares of Cintas by 4.2% in the first quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider’s stock valued at $270,000 after acquiring an additional 53 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CTAS. UBS Group increased their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Argus raised shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Wells Fargo & Company raised shares of Cintas from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $196.00 to $221.00 in a research note on Tuesday. Finally, Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average price target of $219.58.

Cintas Stock Up 1.5%

Shares of Cintas stock opened at $218.83 on Friday. The firm’s 50 day moving average price is $219.80 and its 200-day moving average price is $205.92. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. Cintas Corporation has a 52-week low of $174.44 and a 52-week high of $229.24. The company has a market cap of $88.36 billion, a P/E ratio of 50.68, a PEG ratio of 3.36 and a beta of 1.05.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas’s payout ratio is currently 36.11%.

Insider Buying and Selling

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director owned 27,029 shares of the company’s stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer owned 256,528 shares of the company’s stock, valued at $48,835,235.36. This trade 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 owned by insiders.

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.