Milestone Asset Management LLC lowered its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 80.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,272 shares of the business services provider's stock after selling 9,067 shares during the period. Milestone Asset Management LLC's holdings in Cintas were worth $467,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after acquiring an additional 1,286,668 shares during the period. Brighton Jones LLC raised its stake 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 valued at $232,000 after acquiring an additional 108 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Cintas by 6.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,861 shares of the business services provider's stock valued at $1,984,000 after acquiring an additional 689 shares during the period. DAVENPORT & Co LLC grew its holdings in Cintas by 43.6% during the 4th quarter. DAVENPORT & Co LLC now owns 27,074 shares of the business services provider's stock valued at $4,946,000 after purchasing an additional 8,215 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new stake in Cintas during the 4th quarter valued at $13,311,000. Hedge funds and other institutional investors own 63.46% of the company's stock.
Insider Activity at Cintas
In related news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This 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 insiders.
Cintas Stock Performance
Shares of NASDAQ CTAS traded down $0.21 during midday trading on Wednesday, hitting $227.37. The company's stock had a trading volume of 1,302,813 shares, compared to its average volume of 1,692,505. Cintas Co. has a 1-year low of $168.11 and a 1-year high of $228.65. The firm's fifty day moving average price is $211.41 and its 200-day moving average price is $205.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market cap of $91.81 billion, a P/E ratio of 54.82, a P/E/G ratio of 3.98 and a beta of 1.09.
Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the business posted $3.84 EPS. The company's quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.
Cintas Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas's dividend payout ratio is presently 36.11%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on CTAS shares. Bank of America started coverage on shares of Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target for the company. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Argus raised shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Truist Financial raised their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Citigroup assumed coverage on shares of Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $213.88.
Get Our Latest Research Report on CTAS
Cintas Company Profile
(
Free Report)
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.
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