Atria Investments LLC has $3.18 million in Cintas Co. shares. (NASDAQ:CTAS)

Atria Investments LLC reduced its stake in shares of Cintas Co. (NASDAQ: CTAS – Get a rating) by 35.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,504 shares of the business services provider’s stock after selling 4,621 shares during the quarter. Atria Investments LLC’s holdings in Cintas were worth $3,177,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CTAS. BlackRock Inc. increased its position in shares of Cintas by 14.5% during the 1st quarter. Now BlackRock Inc. owns 7,057,910 shares of the business services provider’s stock valued at $3,002,364,000 after purchasing an additional 893,231 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Cintas by 8,140.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock valued at $73,609,000 after acquiring an additional 170,939 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Cintas by 64.8% during the 2nd quarter. Deutsche Bank AG now owns 251,169 shares of the business services provider’s stock valued at $93,819,000 after purchasing an additional 98,754 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cintas by 0.9% during the 1st quarter. Now Vanguard Group Inc. owns 9,983,902 shares of the business services provider’s stock valued at $4,247,053,000 after purchasing an additional 92,123 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cintas by 33.7% during the first quarter. Now Goldman Sachs Group Inc. owns 309,016 shares of the business services provider’s stock valued at $131,452,000 after purchasing an additional 77,895 shares in the last quarter. Institutional investors and hedge funds own 76.66% of the company’s shares.

Cintas stock performance

NASDAQ: CTAS opened at $449.37 on Monday. The fifty day moving average is $410.08 and the 200 day moving average is $400.20. The company has a market cap of $45.63 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 3.43 and a beta of 1.38. The company has a debt-to-equity ratio of 0.77, a gearing ratio of 1.42, and a current ratio of 1.72. Cintas Co. has a fifty-two week low of $343.86 and a fifty-two week high of $461.44.

Sintos (NASDAQ: CTAS – Get a rating) last announced its quarterly earnings data on Wednesday, September 28th. The business services provider reported $3.39 EPS for the quarter, topping the consensus estimate of $3.13 by $0.26. Cintas had a return on equity of 36.63% and a net margin of 15.46%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the company earned $3.11 per share. Cintas’s revenue for the quarter was up 14.2% on a year-over-year basis. Overall, equities analysts expect that Cintas Co. will post 12.52 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be paid a dividend of $1.15 per share. The ex-dividend date is Monday, November 14th. This amounts to $4.60 in annualized dividends and a dividend yield of 1.02%. Cintas’s dividend payout ratio is currently 38.56%.

Wall Street analysts predict growth

A number of research analysts recently weighed in on CTAS shares. Stifel Nicolaus upped their target price on Cintas from $415.00 to $435.00 in a report on Wednesday, September 28th. Morgan Stanley upped their target price on Cintas from $352.00 to $373.00 in a report on Thursday, September 29th. Robert W. Baird cut their price target on Cintas from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Thursday, September 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $463.00 price target on shares of Cintas in a report on Tuesday, October 25th. finally StockNews.com assumed coverage on Cintas in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Moderate Buy” and an average target price of $440.70, according to MarketBeat.com.

Insider buying and selling

In other Cintas news, the director Melanie W. Barstad sold 2,116 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $415.43 for a total value of $879,049.88. Following the completion of the transaction, the director now directly owns 6,250 shares in the company, valued at $2,596,437.50. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available through SEC website. 15.10% of shares are owned by corporate insiders.

About Cintas

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Cintas Corporation provides corporate apparel and related business services primarily in the United States, Canada and Latin America. It operates through unified rental and facilities services, first aid and security services and all other segments. The company rents and maintains uniforms and other clothing, including fire-resistant clothing, mats, mops and towels, and other support items; and provides restroom cleaning services and supplies and sells uniforms.

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