United Capital Financial Advisors LLC Sells 20,345 Shares of Cintas Co. (NASDAQ:CTAS)

United Capital Financial Advisors LLC lessened its position in Cintas Co. (NASDAQ:CTAS) by 21.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,532 shares of the business services provider’s stock after selling 20,345 shares during the period. United Capital Financial Advisors LLC’s holdings in Cintas were worth $13,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTAS. Geode Capital Management LLC increased its holdings in Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after purchasing an additional 219,809 shares during the period. Invesco Ltd. lifted its stake in Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after acquiring an additional 296,059 shares during the period. Norges Bank bought a new stake in Cintas in the fourth quarter valued at $877,216,000. Franklin Resources Inc. increased its position in Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 1,286,668 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. UBS Group raised their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Bank of America started coverage on Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target on the stock. Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $213.62.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction 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 owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.00% of the stock is owned by insiders.

Cintas Trading Down 0.7 %

NASDAQ:CTAS opened at $208.20 on Wednesday. The stock has a market cap of $84.07 billion, a price-to-earnings ratio of 50.20, a PEG ratio of 3.98 and a beta of 1.20. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $201.32 and its 200-day moving average price is $204.31. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last posted its earnings results 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 business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.84 EPS. On average, equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. 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.