Horizon Investments LLC Cuts Stock Position in Cintas Corporation $CTAS

Horizon Investments LLC cut its holdings in Cintas Corporation (NASDAQ:CTAS) by 35.7% in the fourth quarter, HoldingsChannel reports. The firm owned 10,585 shares of the business services provider’s stock after selling 5,887 shares during the quarter. Horizon Investments LLC’s holdings in Cintas were worth $1,991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Camelot Portfolios LLC purchased a new position in shares of Cintas in the fourth quarter valued at $26,000. Key Capital Management INC purchased a new position in shares of Cintas in the fourth quarter valued at $28,000. Triumph Capital Management purchased a new position in shares of Cintas in the third quarter valued at $29,000. Ares Financial Consulting LLC purchased a new position in shares of Cintas in the fourth quarter valued at $32,000. Finally, Aventura Private Wealth LLC purchased a new position in shares of Cintas in the fourth quarter valued at $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Up 1.4%

Shares of CTAS opened at $169.25 on Wednesday. The company has a market cap of $67.72 billion, a PE ratio of 47.81, a P/E/G ratio of 2.94 and a beta of 0.96. The business has a fifty day moving average of $182.98 and a 200 day moving average of $187.08. Cintas Corporation has a 52-week low of $165.46 and a 52-week high of $229.24. The company has a quick ratio of 1.74, a current ratio of 1.98 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 company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. On average, sell-side analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The business also recently declared 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 is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Insider Transactions at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was 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 $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 Securities & Exchange Commission, which is available through this hyperlink. 14.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. 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. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Citigroup cut their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Finally, Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and raised their price target for the stock from $205.00 to $245.00 in a research report on Wednesday, January 14th. One equities research 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $215.17.

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.