Cintas Corporation $CTAS Shares Sold by Diversified Trust Co

Diversified Trust Co reduced its position in Cintas Corporation (NASDAQ:CTAS) by 43.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,508 shares of the business services provider’s stock after selling 9,698 shares during the quarter. Diversified Trust Co’s holdings in Cintas were worth $2,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baron Wealth Management LLC lifted its stake in shares of Cintas by 53.4% in the 1st quarter. Baron Wealth Management LLC now owns 2,151 shares of the business services provider’s stock valued at $364,000 after purchasing an additional 749 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Cintas by 0.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 205,516 shares of the business services provider’s stock worth $38,652,000 after purchasing an additional 1,141 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Cintas by 13.7% in the fourth quarter. Corient Private Wealth LLC now owns 178,286 shares of the business services provider’s stock valued at $33,709,000 after buying an additional 21,499 shares during the period. Pure Financial Advisors LLC raised its holdings in Cintas by 47.5% in the fourth quarter. Pure Financial Advisors LLC now owns 1,674 shares of the business services provider’s stock valued at $315,000 after buying an additional 539 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in Cintas by 79.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 484 shares of the business services provider’s stock valued at $91,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research reports. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. Truist Financial reduced their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Weiss Ratings cut shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Stifel Nicolaus lowered their price target on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Finally, Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $215.92.

Insiders Place Their Bets

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

Cintas Stock Performance

CTAS opened at $170.85 on Monday. The firm’s 50 day moving average is $173.50 and its 200-day moving average is $183.87. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $68.36 billion, a P/E ratio of 48.26, a P/E/G ratio of 2.72 and a beta of 0.94.

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

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were issued a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Cintas’s payout ratio 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.