Fort L.P. Sells 233 Shares of Cintas Co. (NASDAQ:CTAS)

Fort L.P. trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 25.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 691 shares of the business services provider’s stock after selling 233 shares during the period. Cintas makes up approximately 0.8% of Fort L.P.’s holdings, making the stock its 28th largest position. Fort L.P.’s holdings in Cintas were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CTAS. Seeyond grew its stake in shares of Cintas by 2.8% in the fourth quarter. Seeyond now owns 831 shares of the business services provider’s stock worth $375,000 after acquiring an additional 23 shares during the last quarter. Sentry Investment Management LLC increased its stake in Cintas by 4.1% during the 1st quarter. Sentry Investment Management LLC now owns 605 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 24 shares in the last quarter. Bridges Investment Management Inc. increased its position in shares of Cintas by 0.4% during the first quarter. Bridges Investment Management Inc. now owns 6,263 shares of the business services provider’s stock valued at $2,898,000 after acquiring an additional 24 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in Cintas by 0.4% in the 1st quarter. Achmea Investment Management B.V. now owns 5,680 shares of the business services provider’s stock worth $2,628,000 after acquiring an additional 24 shares during the last quarter. Finally, ETF Managers Group LLC lifted its position in Cintas by 1.5% in the 1st quarter. ETF Managers Group LLC now owns 1,705 shares of the business services provider’s stock valued at $789,000 after acquiring an additional 25 shares in the last quarter. 62.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTAS has been the topic of several recent analyst reports. Argus increased their price objective on Cintas from $510.00 to $540.00 in a research report on Friday, July 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Cintas from $524.00 to $542.00 in a research note on Monday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Cintas from $510.00 to $540.00 in a research note on Friday, July 14th. StockNews.com initiated coverage on shares of Cintas in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus increased their price target on shares of Cintas from $512.00 to $521.00 in a research report on Friday, July 14th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $524.00.

Cintas Trading Down 0.5 %

CTAS stock opened at $495.13 on Friday. Cintas Co. has a fifty-two week low of $370.93 and a fifty-two week high of $518.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.98 and a current ratio of 2.39. The firm has a fifty day moving average price of $496.34 and a 200 day moving average price of $472.77. The firm has a market cap of $50.37 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 3.23 and a beta of 1.31.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 13th. The business services provider reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.14. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. Cintas had a return on equity of 38.09% and a net margin of 15.29%. Cintas’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.81 EPS. Sell-side analysts anticipate that Cintas Co. will post 14.18 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.09%. This is an increase from Cintas’s previous quarterly dividend of $1.15. The ex-dividend date is Monday, August 14th. Cintas’s dividend payout ratio (DPR) is 41.60%.

Insider Activity

In other Cintas news, Director Gerald S. Adolph sold 2,686 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $496.25, for a total value of $1,332,927.50. Following the completion of the sale, the director now directly owns 30,066 shares of the company’s stock, valued at approximately $14,920,252.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cintas news, CAO Michael Lawrence Thompson sold 5,050 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $498.35, for a total transaction of $2,516,667.50. Following the transaction, the chief accounting officer now owns 27,326 shares of the company’s stock, valued at approximately $13,617,912.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald S. Adolph sold 2,686 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $496.25, for a total transaction of $1,332,927.50. Following the completion of the sale, the director now directly owns 30,066 shares of the company’s stock, valued at approximately $14,920,252.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,820 shares of company stock valued at $4,926,731. 15.10% of the stock is currently owned by company insiders.

Cintas Profile

Cintas Corporation provides 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.