Mackenzie Financial Corp Sells 1,657 Shares of Cintas Co. (NASDAQ:CTAS)

Mackenzie Financial Corp reduced its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,027 shares of the business services provider's stock after selling 1,657 shares during the period. Mackenzie Financial Corp's holdings in Cintas were worth $6,765,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Cintas by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after purchasing an additional 219,809 shares during the period. Invesco Ltd. increased its position in shares of Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank bought a new stake in shares of Cintas during the fourth quarter valued at approximately $877,216,000. Northern Trust Corp increased its position in shares of Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after purchasing an additional 472,069 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Cintas by 3.3% during the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after purchasing an additional 115,268 shares during the period. 63.46% of the stock is owned by institutional investors.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday, March 27th. Argus raised Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Robert W. Baird boosted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Finally, UBS Group boosted their price objective on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $213.88.

Cintas Trading Up 0.1%

Shares of CTAS traded up $0.19 during trading hours on Monday, hitting $226.69. 1,094,560 shares of the stock traded hands, compared to its average volume of 1,695,335. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1-year low of $167.71 and a 1-year high of $228.12. The firm has a market capitalization of $91.53 billion, a PE ratio of 54.66, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The business has a fifty day moving average of $210.98 and a 200-day moving average of $205.21.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.84 earnings per share. Analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas's dividend payout ratio is presently 36.11%.

Cintas Profile

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.