Cintas Co. (NASDAQ:CTAS) Shares Sold by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC cut its position in shares of Cintas Co. (NASDAQ:CTAS) by 44.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,697 shares of the business services provider’s stock after selling 9,236 shares during the quarter. Abacus FCF Advisors LLC’s holdings in Cintas were worth $2,404,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services acquired a new position in Cintas during the first quarter worth $2,677,000. Paragon Advisors LLC raised its holdings in Cintas by 16.7% during the first quarter. Paragon Advisors LLC now owns 12,649 shares of the business services provider’s stock worth $2,600,000 after purchasing an additional 1,807 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Cintas by 5.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 7,827 shares of the business services provider’s stock worth $1,609,000 after purchasing an additional 382 shares during the last quarter. Fourpath Capital Management LLC acquired a new position in Cintas during the first quarter worth $203,000. Finally, Tounjian Advisory Partners LLC purchased a new position in Cintas during the first quarter worth $967,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Down 1.3%

Shares of CTAS opened at $224.60 on Tuesday. The stock’s 50-day moving average is $213.03 and its two-hundred day moving average is $205.48. The stock has a market cap of $90.69 billion, a PE ratio of 54.15, a P/E/G ratio of 3.98 and a beta of 1.07. Cintas Co. has a 12 month low of $169.46 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.84 earnings per share. Equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

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. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s dividend payout ratio (DPR) is 36.11%.

Insider Buying and Selling

In related news, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CTAS. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Citigroup began coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Morgan Stanley raised their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Finally, UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $215.81.

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.