Cintas (NASDAQ:CTAS) Director Sells $834,607.42 in Stock

Key Points

• Director Ronald Tysoe sold 4,666 Cintas shares on April 20 at $178.87 for $834,607.42, reducing his stake to 22,448 shares (a 17.21% decrease).
• Quarterly results: Cintas reported $1.24 EPS (in line with estimates) and $2.84 billion in revenue, up 8.9% year-over-year; the company has a market cap of about $69.9 billion and a P/E of 49.34.
• The company announced a $0.45 quarterly dividend ($1.80 annualized, 1.0% yield) with an ex-dividend date of May 15, while analysts’ consensus rating is "Hold" with a $215.17 price target.

Cintas Corporation (NASDAQ:CTAS - Get Free Report) Director Ronald Tysoe sold 4,666 shares of Cintas stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cintas Trading Down 0.9%

Shares of Cintas stock traded down $1.60 on Wednesday, reaching $174.66. 1,404,699 shares of the company were exchanged, compared to its average volume of 2,141,283. Cintas Corporation has a fifty-two week low of $165.60 and a fifty-two week high of $229.24. The firm has a market capitalization of $69.88 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $186.54 and a 200-day moving average price of $188.11.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts' consensus estimates of $1.24. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $1.13 EPS. On average, analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas's dividend payout ratio (DPR) is 50.85%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Cintas from a "cautious" rating to an "overweight" rating and lifted their price objective for the stock from $205.00 to $245.00 in a research report on Wednesday, January 14th. Stifel Nicolaus decreased their target price on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. Citigroup lowered their price target on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a report on Tuesday, March 31st. Weiss Ratings lowered Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. Finally, Bank of America assumed coverage on Cintas in a research note on Tuesday, February 17th. They set a "neutral" rating and a $215.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $215.17.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Cintas by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider's stock valued at $7,994,594,000 after buying an additional 564,487 shares during the last quarter. State Street Corp increased its holdings in Cintas by 1.4% in the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider's stock worth $2,879,632,000 after buying an additional 210,477 shares during the last quarter. Geode Capital Management LLC raised its position in Cintas by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider's stock valued at $1,746,453,000 after acquiring an additional 97,220 shares in the last quarter. Norges Bank bought a new position in Cintas during the fourth quarter valued at approximately $923,672,000. Finally, Morgan Stanley lifted its stake in Cintas by 0.8% in the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider's stock valued at $826,214,000 after acquiring an additional 36,666 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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