Arax Advisory Partners Sells 10,670 Shares of Cintas Corporation $CTAS

Arax Advisory Partners cut its position in Cintas Corporation (NASDAQ:CTAS) by 54.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,874 shares of the business services provider’s stock after selling 10,670 shares during the quarter. Arax Advisory Partners’ holdings in Cintas were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. Norges Bank purchased a new stake in Cintas in the 4th quarter worth approximately $923,672,000. Two Sigma Investments LP lifted its stake in Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock worth $208,682,000 after purchasing an additional 998,963 shares in the last quarter. SG Americas Securities LLC lifted its stake in Cintas by 2,653.0% in the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock worth $188,640,000 after purchasing an additional 966,597 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Cintas by 275.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock worth $230,556,000 after purchasing an additional 823,885 shares in the last quarter. Finally, Freestone Grove Partners LP lifted its stake in Cintas by 5,341.8% in the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after purchasing an additional 733,380 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $174.74 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. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The company’s fifty day moving average price is $173.56 and its 200-day moving average price is $184.24. The firm has a market capitalization of $69.91 billion, a price-to-earnings ratio of 49.36, a PEG ratio of 2.80 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the firm earned $1.13 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was 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%.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The shares were 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 of the company’s stock, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CTAS. Citigroup lowered their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research note on Wednesday, March 11th. Truist Financial decreased their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Finally, Stifel Nicolaus decreased their price target 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $215.92.

About Cintas

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.