Comerica Bank Sells 5,873 Shares of Cintas Corporation $CTAS

Key Points

• Comerica Bank trimmed its stake in Cintas by 7.4% in the 4th quarter, selling 5,873 shares and leaving 73,287 shares valued at about $13.78 million.
• Director Ronald W. Tysoe sold 4,666 shares on April 20 at an average price of $178.87, cutting his ownership by 17.21% to 22,448 shares.
• Cintas reported Q earnings of $1.24 EPS (in line with estimates) and revenue of $2.84 billion (up 8.9% year-over-year), and declared a $0.45 quarterly dividend ($1.80 annual, ~1.0% yield) payable June 15 with record date May 15.

Comerica Bank lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 73,287 shares of the business services provider's stock after selling 5,873 shares during the period. Comerica Bank's holdings in Cintas were worth $13,783,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC grew its holdings in shares of Cintas by 56.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,954 shares of the business services provider's stock worth $555,000 after purchasing an additional 1,064 shares during the last quarter. Aprio Wealth Management LLC grew its holdings in shares of Cintas by 7.1% during the fourth quarter. Aprio Wealth Management LLC now owns 1,496 shares of the business services provider's stock worth $292,000 after purchasing an additional 99 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of Cintas during the fourth quarter worth $26,000. Retirement Solution LLC bought a new stake in shares of Cintas during the fourth quarter worth $308,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Cintas by 10.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,002,205 shares of the business services provider's stock worth $376,647,000 after purchasing an additional 181,952 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director owned 22,448 shares of the company's stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 14.90% of the company's stock.

Cintas Trading Up 0.1%

NASDAQ:CTAS opened at $174.22 on Wednesday. Cintas Corporation has a 1-year low of $165.60 and a 1-year high of $229.24. The business's 50-day moving average price is $184.51 and its two-hundred day moving average price is $187.40. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $69.70 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 3.06 and a beta of 1.01.

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

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 yield of 1.0%. Cintas's dividend payout ratio is presently 50.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Argus upgraded Cintas to a "strong-buy" rating in a report on Wednesday, January 21st. Weiss Ratings cut Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 1st. UBS Group restated a "buy" rating on shares of Cintas in a report on Thursday, March 12th. Stifel Nicolaus decreased their target price on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Finally, Wells Fargo & Company upgraded Cintas from a "cautious" rating to an "overweight" rating and increased their target price for the stock from $205.00 to $245.00 in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock 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.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.