AMI Asset Management Corp cut its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,089 shares of the business services provider's stock after selling 3,450 shares during the quarter. AMI Asset Management Corp's holdings in Cintas were worth $17,283,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Cintas by 2.7% during the fourth 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 during the period. Invesco Ltd. increased its position in shares of Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank bought a new stake in shares of Cintas during the fourth quarter valued at approximately $877,216,000. Northern Trust Corp increased its position in shares of Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after purchasing an additional 472,069 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Cintas by 3.3% during the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after purchasing an additional 115,268 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Cintas
In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Truist Financial upped their price target on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. UBS Group upped their price target on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research note on Thursday, May 1st. Finally, Robert W. Baird boosted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating 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, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cintas has a consensus rating of "Hold" and a consensus price target of $215.81.
Check Out Our Latest Analysis on CTAS
Cintas Trading Down 1.8%
Shares of CTAS opened at $219.24 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. Cintas Corporation has a 12-month low of $172.20 and a 12-month high of $229.24. The firm has a market capitalization of $88.53 billion, a PE ratio of 50.78, a price-to-earnings-growth ratio of 3.48 and a beta of 1.07. The stock's fifty day simple moving average is $218.05 and its 200-day simple moving average is $205.51.
Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the firm posted $3.84 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.
Cintas Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, May 15th. Cintas's payout ratio is 36.11%.
About Cintas
(
Free Report)
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.
Further Reading
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