Independent Advisor Alliance Sells 7,657 Shares of Cintas Corporation $CTAS

Independent Advisor Alliance trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,567 shares of the business services provider’s stock after selling 7,657 shares during the period. Independent Advisor Alliance’s holdings in Cintas were worth $12,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Camelot Portfolios LLC bought a new stake in Cintas in the fourth quarter valued at approximately $26,000. Key Capital Management INC bought a new stake in shares of Cintas during the fourth quarter worth $28,000. Triumph Capital Management bought a new stake in shares of Cintas during the third quarter worth $29,000. Ares Financial Consulting LLC bought a new stake in shares of Cintas during the fourth quarter worth $32,000. Finally, Aventura Private Wealth LLC acquired a new position in Cintas during the fourth quarter worth $34,000. Institutional investors own 63.46% of the company’s stock.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 14.90% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Bank of America initiated coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target for the company. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a research note on Wednesday, March 11th. Finally, Argus upgraded shares of Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $215.17.

Cintas Stock Performance

NASDAQ CTAS opened at $165.42 on Wednesday. The firm has a 50-day moving average of $179.84 and a 200-day moving average of $186.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The stock has a market cap of $66.18 billion, a PE ratio of 46.73, a P/E/G ratio of 2.90 and a beta of 0.96. Cintas Corporation has a 52-week low of $163.45 and a 52-week high of $229.24.

Cintas (NASDAQ:CTAS) last posted 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. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 EPS. On average, sell-side analysts anticipate that Cintas Corporation will post 4.89 EPS for the current 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 paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

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.