Comerica Bank Has $15.31 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Comerica Bank trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,776 shares of the business services provider's stock after selling 2,855 shares during the quarter. Comerica Bank's holdings in Cintas were worth $15,306,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Sound Income Strategies LLC bought a new stake in Cintas during the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas during the 4th quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas in the 4th quarter valued at $31,000. IAG Wealth Partners LLC raised its holdings in Cintas by 136.8% in 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 period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Cintas during the 4th quarter worth $34,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 1.0 %

CTAS stock opened at $209.55 on Friday. The business's 50 day moving average is $201.95 and its 200-day moving average is $204.39. 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 firm has a market cap of $84.61 billion, a P/E ratio of 50.52, a P/E/G ratio of 3.98 and a beta of 1.20. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.84 EPS. Equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now directly owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTAS. Royal Bank of Canada reiterated a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Truist Financial upped their price target on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group upped their target price on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, UBS Group raised their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $213.88.

About Cintas

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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