Cintas Corporation $CTAS Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its position in Cintas Corporation (NASDAQ:CTAS) by 37.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,987 shares of the business services provider’s stock after selling 5,395 shares during the period. Sterling Capital Management LLC’s holdings in Cintas were worth $1,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cambient Family Office LLC lifted its stake in Cintas by 5.5% during the 1st quarter. Cambient Family Office LLC now owns 1,625 shares of the business services provider’s stock valued at $275,000 after acquiring an additional 84 shares during the period. Value Partners Investments Inc. increased its stake in shares of Cintas by 4.4% in the first quarter. Value Partners Investments Inc. now owns 13,993 shares of the business services provider’s stock worth $2,364,000 after acquiring an additional 588 shares during the period. First United Bank & Trust acquired a new stake in shares of Cintas in the first quarter worth $25,000. Columbus Macro LLC raised its holdings in shares of Cintas by 3.5% during the first quarter. Columbus Macro LLC now owns 35,079 shares of the business services provider’s stock worth $5,933,000 after purchasing an additional 1,196 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of Cintas by 47.9% during the first quarter. Aaron Wealth Advisors LLC now owns 3,954 shares of the business services provider’s stock worth $669,000 after purchasing an additional 1,280 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial lowered their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Stifel Nicolaus reduced their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Bank of America decreased their price objective on Cintas from $215.00 to $200.00 and set a “neutral” rating for the company in a report on Monday. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research note on Wednesday, March 11th. Finally, Weiss Ratings lowered Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $214.77.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $169.08 on Tuesday. The company’s fifty day moving average price is $172.78 and its 200 day moving average price is $183.26. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75. The company has a market capitalization of $67.65 billion, a PE ratio of 47.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Cintas’s dividend payout ratio is 50.85%.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 14.90% of the stock is currently owned by insiders.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.