Sterling Capital Management LLC Cuts Stock Position in Cintas Corporation $CTAS

Sterling Capital Management LLC cut its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 37.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,987 shares of the business services provider’s stock after selling 5,395 shares during the period. Sterling Capital Management LLC’s holdings in Cintas were worth $1,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nemes Rush Group LLC acquired a new position in shares of Cintas during the 4th quarter worth about $25,000. First United Bank & Trust acquired a new stake in Cintas in the 1st quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in Cintas during the 4th quarter worth approximately $25,000. Camelot Portfolios LLC purchased a new stake in Cintas during the 4th quarter worth approximately $26,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Cintas during the fourth quarter valued at approximately $26,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Down 1.6%

CTAS opened at $169.08 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The company’s 50 day simple moving average is $172.78 and its two-hundred day simple moving average is $183.26. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $226.75. The firm has a market capitalization of $67.65 billion, a price-to-earnings ratio of 47.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.94.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Analyst Ratings Changes

CTAS has been the topic of several research reports. Citigroup decreased their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings downgraded Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Bank of America decreased their price objective on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $214.77.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 14.90% of the company’s stock.

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.