Rathbones Group PLC Decreases Stake in Cintas Corporation $CTAS

Rathbones Group PLC lowered its position in Cintas Corporation (NASDAQ:CTAS) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 585,242 shares of the business services provider’s stock after selling 38,939 shares during the quarter. Rathbones Group PLC’s holdings in Cintas were worth $110,066,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Camelot Portfolios LLC purchased a new position in Cintas in the fourth quarter worth approximately $26,000. Key Capital Management INC purchased a new position in Cintas in the fourth quarter worth approximately $28,000. Triumph Capital Management purchased a new position in Cintas in the third quarter worth approximately $29,000. Ares Financial Consulting LLC purchased a new position in Cintas in the fourth quarter worth approximately $32,000. Finally, Aventura Private Wealth LLC purchased a new position in Cintas in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CTAS shares. Stifel Nicolaus cut their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Bank of America started coverage on shares of Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective on the stock. Weiss Ratings cut shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. Finally, Argus raised shares of Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $215.17.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction 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 transaction, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 14.90% of the stock is owned by insiders.

Cintas Stock Down 0.5%

CTAS stock opened at $171.36 on Thursday. The company’s 50 day moving average is $175.92 and its two-hundred day moving average is $185.45. The stock has a market cap of $68.56 billion, a P/E ratio of 48.41, a PEG ratio of 3.03 and a beta of 0.96. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $229.24. 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 announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. The business had revenue of $2.84 billion for 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%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 EPS. Research analysts expect that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s payout ratio is presently 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.