Cintas Corporation $CTAS Stake Lowered by RB Capital Management LLC

RB Capital Management LLC cut its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 18.5% in the 4th quarter, Holdings Channel reports. The firm owned 13,422 shares of the business services provider’s stock after selling 3,049 shares during the quarter. RB Capital Management LLC’s holdings in Cintas were worth $2,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in CTAS. Brighton Jones LLC grew its holdings in Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after buying an additional 108 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after buying an additional 428 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in Cintas in the 2nd quarter worth approximately $625,000. Treasurer of the State of North Carolina grew its holdings in Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after buying an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after buying an additional 31,068 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction that occurred 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 represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CTAS shares. UBS Group reissued a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and increased their price objective for the stock from $205.00 to $245.00 in a report on Wednesday, January 14th. Citigroup decreased their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Bank of America started coverage on Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective for the company. One 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 assigned a Sell rating to the company. According to MarketBeat, Cintas has a consensus rating of “Hold” and an average target price of $215.17.

Cintas Stock Performance

CTAS opened at $166.97 on Friday. The company has a market capitalization of $66.80 billion, a price-to-earnings ratio of 47.17, a price-to-earnings-growth ratio of 2.99 and a beta of 0.96. 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 1-year low of $165.46 and a 1-year high of $229.24. The business has a 50 day moving average price of $181.83 and a two-hundred day moving average price of $186.85.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. The firm 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%.The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share. Research analysts predict that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

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