Diversified Trust Co Decreases Stake in Cintas Corporation $CTAS

Key Points

• Diversified Trust Co cut its stake in Cintas by 43.7% in the first quarter, selling 9,698 shares and leaving it with 12,508 shares worth about $2.12 million.
• Another insider transaction showed Director Ronald W. Tysoe sold 4,666 shares at an average price of $178.87, reducing his position by 17.21%.
• Cintas reported quarterly EPS of $1.24, matching estimates, with revenue of $2.84 billion topping expectations; the company also paid a quarterly dividend of $0.45 per share for a 1.1% annualized yield.

Diversified Trust Co lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 43.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,508 shares of the business services provider's stock after selling 9,698 shares during the period. Diversified Trust Co's holdings in Cintas were worth $2,116,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CTAS. State Street Corp lifted its holdings in Cintas by 1.4% in the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider's stock valued at $2,879,632,000 after acquiring an additional 210,477 shares during the period. Geode Capital Management LLC grew its stake in shares of Cintas by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider's stock worth $1,746,453,000 after purchasing an additional 97,220 shares during the period. Norges Bank acquired a new position in shares of Cintas during the 4th quarter worth $923,672,000. Morgan Stanley increased its holdings in shares of Cintas by 0.8% in the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider's stock valued at $826,214,000 after purchasing an additional 36,666 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Cintas by 6.2% in the 4th quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider's stock valued at $517,466,000 after purchasing an additional 158,785 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The shares were 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 in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 14.90% of the stock is currently owned by insiders.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $170.85 on Monday. The firm's 50 day moving average price is $173.50 and its 200 day moving average price is $183.87. 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 firm has a market cap of $68.36 billion, a P/E ratio of 48.26, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75.

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 (EPS) for the quarter, hitting the consensus estimate of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The business's revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Cintas's dividend payout ratio is currently 50.85%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. UBS Group reissued a "buy" rating on shares of Cintas in a report on Thursday, March 12th. Citigroup dropped their target price on shares of Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a report on Tuesday, March 31st. Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. Robert W. Baird raised Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. Finally, Weiss Ratings cut Cintas from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $215.92.

Cintas Company 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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