Bank of America Corp DE Sells 354,373 Shares of Cintas Co. (NASDAQ:CTAS)

Bank of America Corp DE reduced its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128,314 shares of the business services provider's stock after selling 354,373 shares during the period. Bank of America Corp DE owned 0.28% of Cintas worth $206,143,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in shares of Cintas in the 4th quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new stake in Cintas in the fourth quarter worth approximately $29,000. Endeavor Private Wealth Inc. purchased a new stake in Cintas in the fourth quarter worth approximately $31,000. IAG Wealth Partners LLC boosted its stake in shares of 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 during the 4th quarter valued at $34,000. 63.46% of the stock is owned by institutional investors.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction dated 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 $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CTAS. Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. The Goldman Sachs Group upped their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Citigroup initiated coverage on shares of Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 target price on the stock. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $213.88.

Cintas Stock Performance

CTAS traded up $2.25 during midday trading on Monday, reaching $216.99. The company's stock had a trading volume of 1,913,273 shares, compared to its average volume of 1,702,312. The stock has a market cap of $87.62 billion, a P/E ratio of 52.32, a PEG ratio of 3.98 and a beta of 1.09. The company has a fifty day simple moving average of $202.92 and a 200 day simple moving average of $204.37. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a twelve month low of $164.93 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.84 earnings per share. Research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas's payout ratio is presently 36.11%.

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.