Toronto Dominion Bank Has $32.28 Million Stake in Cintas Co. (NASDAQ:CTAS)

Toronto Dominion Bank reduced its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,673 shares of the business services provider's stock after selling 3,139 shares during the quarter. Toronto Dominion Bank's holdings in Cintas were worth $32,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MJP Associates Inc. ADV grew its position in Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after purchasing an additional 50 shares in the last quarter. Guardian Wealth Advisors LLC grew its holdings in shares of Cintas by 3.1% during the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock valued at $318,000 after buying an additional 52 shares in the last quarter. MGB Wealth Management LLC grew its holdings in shares of Cintas by 0.7% during the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock valued at $1,328,000 after buying an additional 52 shares in the last quarter. TIAA Trust National Association raised its position in Cintas by 1.0% during the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock valued at $983,000 after buying an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC lifted its stake in Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after acquiring an additional 52 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction on 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 in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction on Monday, April 14th. The shares were 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 owns 27,029 shares of the company's stock, 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. Corporate insiders own 15.00% of the company's stock.

Cintas Stock Performance

CTAS traded up $0.61 on Thursday, hitting $221.66. The company had a trading volume of 1,210,188 shares, compared to its average volume of 1,706,584. The company's fifty day moving average price is $206.34 and its 200 day moving average price is $205.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1-year low of $164.93 and a 1-year high of $228.12. The stock has a market cap of $89.50 billion, a price-to-earnings ratio of 53.44, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the company earned $3.84 EPS. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CTAS shares. The Goldman Sachs Group raised their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. Bank of America began coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $213.88.

Cintas Company 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.