Howard Capital Management Inc. Sells 1,521 Shares of Cintas Corporation (NASDAQ:CTAS)

Key Points

• Howard Capital Management Inc. decreased its holdings in Cintas Corporation by 15.2% during the first quarter, owning 8,464 shares valued at $1.74 million after selling 1,521 shares.
• A recent insider transaction saw CEO Todd M. Schneider selling 17,301 shares worth approximately $3.82 million, reducing his ownership stake by 2.70%.
• Cintas Corporation has announced an increase in its quarterly dividend from $0.39 to $0.45 per share, signaling a commitment to returning value to shareholders.

Howard Capital Management Inc. trimmed its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,464 shares of the business services provider's stock after selling 1,521 shares during the quarter. Howard Capital Management Inc.'s holdings in Cintas were worth $1,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTAS. Brighton Jones LLC boosted its holdings in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after purchasing an additional 108 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Cintas by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after buying an additional 3,504 shares during the period. Meeder Asset Management Inc. lifted its holdings in Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after buying an additional 134 shares during the period. HighPoint Advisor Group LLC lifted its holdings in Cintas by 10.2% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,316 shares of the business services provider's stock worth $606,000 after buying an additional 307 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Cintas by 70.7% in the 4th quarter. National Bank of Canada FI now owns 455,565 shares of the business services provider's stock worth $83,232,000 after acquiring an additional 188,745 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS stock traded down $1.05 on Friday, reaching $221.50. The stock had a trading volume of 1,304,254 shares, compared to its average volume of 1,374,874. The stock has a market cap of $89.26 billion, a P/E ratio of 50.23, a price-to-earnings-growth ratio of 3.50 and a beta of 1.05. Cintas Corporation has a 1 year low of $180.78 and a 1 year high of $229.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The company has a 50 day simple moving average of $221.43 and a 200 day simple moving average of $210.36.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the business posted $3.99 EPS. Equities research analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a $0.45 dividend. The ex-dividend date is Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Cintas's dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTAS. The Goldman Sachs Group raised their price objective on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley raised their price objective on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Robert W. Baird raised their price objective on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. UBS Group raised their price objective on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. began coverage on Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cintas currently has a consensus rating of "Hold" and an average price target of $224.54.

Insiders Place Their Bets

In related news, Director Martin Mucci purchased 1,200 shares of Cintas stock in a transaction on Monday, July 21st. The stock was acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the transaction, the director directly owned 2,621 shares in the company, valued at $583,303.55. This represents a 84.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the sale, the chief executive officer owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.