Cintas Corporation (NASDAQ:CTAS) CEO Todd M. Schneider Sells 17,301 Shares

Key Points

• Cintas Corporation CEO Todd M. Schneider sold 17,301 shares at an average price of $220.90, totaling approximately $3.82 million, reducing his ownership stake by 2.70%.
• Cintas reported $1.09 earnings per share for the last quarter, exceeding analysts' expectations of $1.07, with a revenue increase of 8.0% year-over-year.
• Recent analyst ratings for Cintas show a consensus rating of "Hold" with a price target averaging $224.54, highlighting mixed sentiments among Wall Street analysts.

Cintas Corporation (NASDAQ:CTAS - Get Free Report) CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the sale, the chief executive officer owned 622,712 shares in the company, valued at approximately $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cintas Stock Up 1.0%

NASDAQ CTAS traded up $2.30 during trading on Tuesday, reaching $222.68. The company's stock had a trading volume of 1,101,304 shares, compared to its average volume of 1,714,266. The business has a 50-day moving average price of $221.39 and a 200-day moving average price of $209.76. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The stock has a market capitalization of $89.92 billion, a PE ratio of 50.49, a PEG ratio of 3.51 and a beta of 1.05.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same period in the previous year, the company earned $3.99 earnings per share. Cintas's revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cintas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Cintas by 1.3% during the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after acquiring an additional 491,307 shares during the period. Nuveen LLC acquired a new stake in shares of Cintas in the 1st quarter valued at $1,877,760,000. Geode Capital Management LLC boosted its stake in shares of Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after purchasing an additional 219,809 shares in the last quarter. Invesco Ltd. lifted its position in Cintas by 6.1% during the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after buying an additional 296,059 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Cintas by 0.7% during the 1st quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock worth $841,749,000 after buying an additional 28,469 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of recent analyst reports. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. The Goldman Sachs Group boosted their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird lifted their price objective on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $224.54.

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.

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