Cintas Corporation $CTAS Stake Lowered by Callan Family Office LLC

Key Points

• Callan Family Office LLC reduced its stake in Cintas Corporation by 48.1%, holding 4,234 shares valued at approximately $870,000 after selling 3,925 shares in the first quarter.
• Cintas reported an earnings per share of $1.09 for the last quarter, exceeding the consensus estimate of $1.07, with revenue rising 8.0% year-over-year to $2.67 billion.
• The company declared a quarterly dividend of $0.45 per share, representing a 0.8% dividend yield, which is an increase from the previous quarterly dividend of $0.39.

Callan Family Office LLC decreased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 48.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,234 shares of the business services provider's stock after selling 3,925 shares during the period. Callan Family Office LLC's holdings in Cintas were worth $870,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in shares of Cintas in the 1st quarter worth $41,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after buying an additional 181 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in Cintas in the 1st quarter worth $46,000. Greykasell Wealth Strategies Inc. purchased a new stake in Cintas in the 1st quarter worth $46,000. Finally, Wellington Shields & Co. LLC purchased a new position in Cintas during the first quarter valued at $51,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

CTAS has been the subject of several recent research reports. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. UBS Group raised their target price on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price for the company. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 target price (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $224.54.

Insider Activity

In other Cintas news, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction on Monday, July 21st. The stock was bought at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. The trade was a 84.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares in the company, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Cintas Trading Down 0.9%

NASDAQ CTAS traded down $1.87 on Monday, reaching $214.68. The stock had a trading volume of 747,474 shares, compared to its average volume of 1,676,386. The firm has a market capitalization of $86.51 billion, a price-to-earnings ratio of 48.69, a P/E/G ratio of 3.73 and a beta of 1.03. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 12-month low of $180.78 and a 12-month high of $229.24. The stock has a fifty day moving average price of $220.86 and a two-hundred day moving average price of $212.20.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results 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 firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the firm earned $3.99 earnings per share. The business's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. Cintas's dividend payout ratio is currently 40.82%.

Cintas 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.