Colonial Trust Co SC Decreases Stake in Cintas Co. (NASDAQ:CTAS)

Colonial Trust Co SC trimmed its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,746 shares of the business services provider's stock after selling 5,362 shares during the quarter. Colonial Trust Co SC's holdings in Cintas were worth $3,608,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. Norges Bank purchased a new position in shares of Cintas during the 4th quarter worth $877,216,000. JPMorgan Chase & Co. grew its stake in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Cintas in the 4th quarter valued at about $196,057,000. Barclays PLC grew its holdings in Cintas by 340.1% during the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock worth $224,312,000 after acquiring an additional 841,952 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Cintas by 2,729.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,285 shares of the business services provider's stock worth $112,778,000 after acquiring an additional 595,469 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 0.1 %

Shares of NASDAQ CTAS traded down $0.17 during mid-day trading on Friday, reaching $214.79. 965,220 shares of the company's stock were exchanged, compared to its average volume of 1,698,177. The firm has a market capitalization of $86.73 billion, a price-to-earnings ratio of 51.79, a PEG ratio of 3.98 and a beta of 1.09. Cintas Co. has a twelve month low of $164.93 and a twelve month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $202.92 and a 200 day simple moving average of $204.44.

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

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.73%. Cintas's dividend payout ratio is currently 36.11%.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. This represents a 23.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was 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.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CTAS shares. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research report on Thursday, May 1st. Bank of America started coverage on Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Finally, UBS Group lifted their price target on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $213.88.

Cintas Company 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.