RB Capital Management LLC Sells 234 Shares of Cintas Co. (NASDAQ:CTAS)

RB Capital Management LLC reduced its position in shares of Cintas Co. (NASDAQ:CTAS) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,684 shares of the business services provider’s stock after selling 234 shares during the period. RB Capital Management LLC’s holdings in Cintas were worth $3,048,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in Cintas during the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC purchased a new stake in Cintas during the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new stake in Cintas during the fourth quarter worth about $31,000. IAG Wealth Partners LLC increased its holdings in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after buying an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Cintas during the fourth quarter worth about $34,000. 63.46% of the stock is owned by institutional investors.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred 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 sale, the director now owns 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTAS. Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Truist Financial raised their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Argus upgraded shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Morgan Stanley lifted their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $213.88.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $221.05 on Thursday. The company has a 50 day moving average of $206.34 and a 200 day moving average of $205.06. The stock has a market cap of $89.26 billion, a P/E ratio of 53.30, a P/E/G ratio of 3.98 and a beta of 1.09. Cintas Co. has a 12 month low of $164.93 and a 12 month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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%. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.84 earnings per share. As a group, sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas’s dividend payout ratio is currently 36.11%.

Cintas 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.