Cintas Corporation $CTAS Shares Sold by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC reduced its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 51.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,451 shares of the business services provider’s stock after selling 4,673 shares during the period. Red Cedar Investment Management LLC’s holdings in Cintas were worth $837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nemes Rush Group LLC acquired a new stake in Cintas during the 4th quarter valued at $25,000. Triumph Capital Management acquired a new position in shares of Cintas in the third quarter worth $29,000. Camelot Portfolios LLC purchased a new stake in shares of Cintas in the fourth quarter valued at $26,000. Key Capital Management INC purchased a new stake in shares of Cintas in the fourth quarter valued at $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Cintas during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Transactions at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. The trade was 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. Insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of a number of recent research reports. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings cut shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Stifel Nicolaus lowered their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 11th. Finally, Bank of America initiated coverage on shares of Cintas in a research note on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $215.17.

Cintas Stock Performance

Cintas stock opened at $179.87 on Wednesday. The stock has a fifty day moving average price of $172.97 and a 200 day moving average price of $184.39. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The firm has a market capitalization of $71.96 billion, a P/E ratio of 50.81, a PEG ratio of 2.76 and a beta of 0.94. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last issued its quarterly 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 firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.13 EPS. Equities research analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Cintas Company 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.