Cintas Co. (NASDAQ:CTAS) Shares Sold by Milestone Asset Management LLC

Milestone Asset Management LLC decreased its holdings in Cintas Co. (NASDAQ:CTAS) by 80.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,272 shares of the business services provider’s stock after selling 9,067 shares during the quarter. Milestone Asset Management LLC’s holdings in Cintas were worth $467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTAS. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas in the 4th quarter worth $29,000. IAG Wealth Partners LLC lifted its position in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after acquiring an additional 104 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Cintas during the 4th quarter worth about $34,000. Meeder Asset Management Inc. lifted its position in Cintas by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after acquiring an additional 134 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Cintas during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was 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 approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value 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. This trade represents 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 company insiders.

Cintas Price Performance

Shares of Cintas stock opened at $226.69 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a twelve month low of $167.71 and a twelve month high of $228.12. The business has a 50-day moving average price of $210.98 and a 200 day moving average price of $205.21. The firm has a market cap of $91.53 billion, a PE ratio of 54.66, a P/E/G ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the business earned $3.84 EPS. Cintas’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. Cintas’s dividend payout ratio is presently 36.11%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of research reports. Bank of America initiated coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target for the company. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Redburn Atlantic cut Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a research report on Thursday, May 1st. UBS Group lifted their price target on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, Citigroup initiated coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $213.88.

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.