Russell Investments Group Ltd. Sells 152,601 Shares of Cintas Corporation (NASDAQ:CTAS)

Russell Investments Group Ltd. decreased its holdings in Cintas Corporation (NASDAQ:CTAS) by 34.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,801 shares of the business services provider’s stock after selling 152,601 shares during the period. Russell Investments Group Ltd.’s holdings in Cintas were worth $58,460,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of Cintas in the first quarter worth about $41,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock worth $43,000 after purchasing an additional 181 shares in the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of Cintas in the first quarter worth about $46,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Cintas in the first quarter worth about $46,000. Finally, Wellington Shields & Co. LLC purchased a new position in shares of Cintas in the first quarter worth about $51,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Activity

In other news, Director Ronald W. Tysoe sold 5,084 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total value of $1,136,121.48. Following the completion of the sale, the director owned 21,945 shares of the company’s stock, valued at approximately $4,904,049.15. This represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin Mucci purchased 1,200 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were purchased at an average price of $222.55 per share, with a total value of $267,060.00. Following the completion of the acquisition, the director directly owned 2,621 shares in the company, valued at $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.00% of the stock is owned by corporate insiders.

Cintas Price Performance

CTAS stock opened at $225.10 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. Cintas Corporation has a one year low of $180.78 and a one year high of $229.24. The stock has a market cap of $90.71 billion, a PE ratio of 51.04, a P/E/G ratio of 3.85 and a beta of 1.03. The firm has a 50 day simple moving average of $221.19 and a two-hundred day simple moving average of $211.80.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the company earned $3.99 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.45 dividend. This is a positive change from Cintas’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. Cintas’s dividend payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTAS shares. Wells Fargo & Company upgraded shares of Cintas from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. JPMorgan Chase & Co. began coverage on shares of Cintas in a report on Monday, July 14th. They issued an “overweight” rating and a $239.00 price target for the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $240.00 price target (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Argus raised shares of Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group raised their price target on shares of Cintas from $233.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and an average target price of $224.54.

About Cintas

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.