Board of the Pension Protection Fund Sells 4,800 Shares of Cintas Corporation (NASDAQ:CTAS)

Board of the Pension Protection Fund reduced its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 94.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300 shares of the business services provider's stock after selling 4,800 shares during the period. Board of the Pension Protection Fund's holdings in Cintas were worth $62,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CTAS. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the fourth quarter valued at approximately $29,000. IAG Wealth Partners LLC boosted its position in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after acquiring an additional 104 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after acquiring an additional 134 shares during the period. OFI Invest Asset Management bought a new stake in shares of Cintas in the fourth quarter valued at approximately $37,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Cintas in the fourth quarter valued at approximately $40,000. 63.46% of the stock is owned by institutional investors.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was 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 trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm's 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 sale, 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 disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group increased their price objective on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Robert W. Baird upped their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price objective (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Finally, Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Cintas currently has an average rating of "Hold" and a consensus target price of $215.81.

Cintas Stock Performance

Shares of CTAS stock opened at $220.75 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The stock has a market cap of $89.14 billion, a PE ratio of 51.13, a price-to-earnings-growth ratio of 3.44 and a beta of 1.07. The stock has a 50-day moving average of $218.64 and a 200-day moving average of $205.67. Cintas Corporation has a one year low of $172.20 and a one year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 41.30% and a net margin of 17.53%. Cintas's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.84 EPS. As a group, sell-side analysts expect that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

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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