Cintas Corporation $CTAS Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL trimmed its Cintas stake by 1.1% in the fourth quarter, selling 10,938 shares and leaving it with 995,017 shares valued at about $187.1 million.
• Cintas reported solid quarterly results, matching earnings expectations at $1.24 per share and topping revenue estimates with $2.84 billion in sales, up 8.9% year over year.
• The company also paid a quarterly dividend of $0.45 per share, equal to an annualized payout of $1.80 and a dividend yield of 1.0%.

Blair William & Co. IL cut its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 995,017 shares of the business services provider's stock after selling 10,938 shares during the quarter. Blair William & Co. IL owned about 0.25% of Cintas worth $187,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nemes Rush Group LLC acquired a new position in shares of Cintas in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in shares of Cintas in the 4th quarter worth approximately $25,000. Camelot Portfolios LLC acquired a new stake in Cintas during the fourth quarter valued at approximately $26,000. Key Capital Management INC acquired a new stake in Cintas during the fourth quarter valued at approximately $28,000. Finally, Meeder Asset Management Inc. boosted its holdings in Cintas by 226.7% during the fourth quarter. Meeder Asset Management Inc. now owns 147 shares of the business services provider's stock worth $28,000 after buying an additional 102 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Up 1.1%

Shares of NASDAQ:CTAS opened at $176.71 on Wednesday. The firm has a 50 day simple moving average of $173.60 and a 200 day simple moving average of $184.19. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The company has a market cap of $70.70 billion, a PE ratio of 49.92, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same period in the previous year, the company posted $1.13 EPS. The company's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts expect that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas's payout ratio is currently 50.85%.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company's stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.90% of the company's stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research reports. UBS Group reaffirmed a "buy" rating on shares of Cintas in a report on Thursday, March 12th. Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price objective for the company. Truist Financial decreased their target price on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Monday. Citigroup cut their target price on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research report on Tuesday, March 31st. Finally, Stifel Nicolaus decreased their price target on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $215.92.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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