Accredited Investors Inc. Has $371,000 Stake in Cintas Co. (NASDAQ:CTAS)

Accredited Investors Inc. cut its position in shares of Cintas Co. (NASDAQ:CTAS) by 14.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,030 shares of the business services provider’s stock after selling 339 shares during the period. Accredited Investors Inc.’s holdings in Cintas were worth $371,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in Cintas during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in Cintas during the 4th quarter worth $29,000. Endeavor Private Wealth Inc. bought a new stake in Cintas during the 4th quarter worth $31,000. IAG Wealth Partners LLC grew its position in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas in the 4th quarter valued at about $34,000. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTAS. The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Bank of America assumed coverage on Cintas in a research report on Thursday. They issued a “buy” rating and a $250.00 price objective on the stock. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Finally, Morgan Stanley boosted their target price on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus target price of $213.62.

Cintas Stock Up 7.3 %

Shares of NASDAQ CTAS opened at $203.99 on Thursday. The company has a market cap of $82.32 billion, a P/E ratio of 49.18, a PEG ratio of 3.98 and a beta of 1.20. The firm has a 50-day simple moving average of $200.97 and a two-hundred day simple moving average of $204.27. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. 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 released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the company earned $3.84 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is presently 36.11%.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value 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 trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.00% of the company’s stock.

Cintas 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.