Cintas Corporation $CTAS Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Cintas position by 27.7% in the fourth quarter, selling 10,204 shares and leaving it with 26,596 shares worth about $5.0 million.
• Cintas reported mixed but solid quarterly results, with earnings of $1.24 per share matching expectations and revenue of $2.84 billion beating estimates; revenue rose 8.9% year over year.
• The company also declared a quarterly dividend of $0.45 per share, while analysts currently have an average Hold rating and a consensus price target of about $215.17.

Crossmark Global Holdings Inc. lowered its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 27.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,596 shares of the business services provider's stock after selling 10,204 shares during the period. Crossmark Global Holdings Inc.'s holdings in Cintas were worth $5,002,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CTAS. Richardson Financial Services Inc. increased its stake in shares of Cintas by 1.1% in the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider's stock valued at $951,000 after purchasing an additional 54 shares during the period. Woodward Diversified Capital LLC raised its holdings in shares of Cintas by 4.8% during the fourth quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider's stock valued at $242,000 after buying an additional 59 shares during the last quarter. Mather Group LLC. boosted its position in shares of Cintas by 1.4% during the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider's stock worth $824,000 after buying an additional 59 shares during the period. Oakworth Capital Inc. grew its holdings in Cintas by 4.8% in the 3rd quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider's stock worth $267,000 after buying an additional 60 shares in the last quarter. Finally, Atlas Legacy Advisors LLC grew its holdings in Cintas by 4.1% in the 3rd quarter. Atlas Legacy Advisors LLC now owns 1,560 shares of the business services provider's stock worth $320,000 after buying an additional 62 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS stock opened at $166.97 on Monday. The stock has a 50-day simple moving average of $181.83 and a 200 day simple moving average of $186.85. Cintas Corporation has a fifty-two week low of $165.46 and a fifty-two week high of $229.24. The stock has a market capitalization of $66.80 billion, a P/E ratio of 47.17, a P/E/G ratio of 2.94 and a beta of 0.96. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS 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 business earned $1.13 earnings per share. Cintas's revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, May 15th. Cintas's payout ratio is presently 50.85%.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 14.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTAS. Bank of America initiated coverage on Cintas in a research report on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price target for the company. Wells Fargo & Company upgraded shares of Cintas from a "cautious" rating to an "overweight" rating and lifted their price objective for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. UBS Group reiterated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Robert W. Baird raised shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 target price on the stock in a research note on Wednesday, March 11th. Finally, Weiss Ratings lowered shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $215.17.

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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