MainStreet Investment Advisors LLC Has $1.69 Million Holdings in Cintas Co. (NASDAQ:CTAS)

MainStreet Investment Advisors LLC reduced its holdings in Cintas Co. (NASDAQ:CTAS) by 0.7% during the 4th quarter, Holdings Channel reports. The fund owned 9,259 shares of the business services provider’s stock after selling 65 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Cintas were worth $1,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in shares of Cintas by 26.7% in the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider’s stock worth $407,163,000 after acquiring an additional 468,950 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after acquiring an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC boosted its holdings in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after acquiring an additional 6,341 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC boosted its holdings in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after acquiring an additional 1,988 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director now directly owns 27,029 shares of the company’s stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTAS. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Morgan Stanley boosted their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Finally, Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective for the company. in a research report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and an average price target of $213.88.

Cintas Stock Performance

Shares of Cintas stock opened at $215.33 on Wednesday. The firm has a fifty day moving average of $203.45 and a two-hundred day moving average of $204.52. The stock has a market capitalization of $86.95 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 3.98 and a beta of 1.09. Cintas Co. has a 52 week low of $164.93 and a 52 week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.84 EPS. As a group, equities research analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Thursday, May 15th. Cintas’s payout ratio is 36.11%.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.