Cintas Corporation $CTAS Shares Sold by Rathbones Group PLC

Key Points

• Rathbones Group PLC cut its Cintas stake by 6.2% in the fourth quarter, selling 38,939 shares and leaving it with 585,242 shares valued at about $110.1 million.
• A Cintas director, Ronald W. Tysoe, sold 4,666 shares on April 20 for roughly $834,607, reducing his ownership by 17.21%.
• Cintas reported quarterly EPS of $1.24, matching analyst estimates, while revenue came in at $2.84 billion and rose 8.9% year over year; the company also announced a $0.45 quarterly dividend payable June 15.

Rathbones Group PLC trimmed its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 585,242 shares of the business services provider's stock after selling 38,939 shares during the period. Rathbones Group PLC owned 0.15% of Cintas worth $110,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CTAS. Brighton Jones LLC raised its position in shares of Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after buying an additional 108 shares during the last quarter. Sivia Capital Partners LLC increased its position in Cintas by 42.3% during the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock worth $321,000 after purchasing an additional 428 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cintas during the second quarter worth about $625,000. Treasurer of the State of North Carolina increased its position in Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock worth $47,291,000 after purchasing an additional 35,781 shares during the last quarter. Finally, Ieq Capital LLC increased its position in Cintas by 50.2% during the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock worth $20,710,000 after purchasing an additional 31,068 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cintas

In other 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 value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company's stock, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 14.90% of the company's stock.

Cintas Trading Down 0.5%

Shares of CTAS stock opened at $171.36 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The firm has a market cap of $68.56 billion, a PE ratio of 48.41, a price-to-earnings-growth ratio of 3.03 and a beta of 0.96. The company has a 50-day moving average of $175.92 and a two-hundred day moving average of $185.45. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $229.24.

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

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. Cintas's dividend payout ratio (DPR) is presently 50.85%.

Wall Street Analyst Weigh In

CTAS has been the subject of several research analyst reports. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, January 21st. Stifel Nicolaus lowered their target price on shares of Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Robert W. Baird raised shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 target price for the company in a research note on Wednesday, March 11th. Bank of America initiated coverage on shares of Cintas in a research note on Tuesday, February 17th. They set a "neutral" rating and a $215.00 target price for the company. 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 issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Cintas has an average rating of "Hold" and a consensus price target of $215.17.

Cintas Profile

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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