TimesSquare Capital Management LLC Sells 22,895 Shares of Cintas Corporation $CTAS

Key Points

• TimesSquare Capital Management reduced its Cintas stake by 5.9% in the fourth quarter, selling 22,895 shares and leaving it with 365,994 shares valued at about $68.8 million.
• Cintas reported quarterly earnings of $1.24 per share, matching analyst estimates, while revenue came in at $2.84 billion, slightly above expectations and up 8.9% year over year.
• The company announced a quarterly dividend of $0.45 per share, payable June 15, implying an annualized yield of about 1.0%.

TimesSquare Capital Management LLC lessened its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 365,994 shares of the business services provider's stock after selling 22,895 shares during the quarter. TimesSquare Capital Management LLC owned about 0.09% of Cintas worth $68,832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Csenge Advisory Group increased its holdings in Cintas by 6.0% in the fourth quarter. Csenge Advisory Group now owns 25,818 shares of the business services provider's stock valued at $4,856,000 after purchasing an additional 1,455 shares during the last quarter. Profund Advisors LLC increased its holdings in Cintas by 4.9% in the fourth quarter. Profund Advisors LLC now owns 34,734 shares of the business services provider's stock valued at $6,532,000 after purchasing an additional 1,633 shares during the last quarter. ProShare Advisors LLC increased its holdings in Cintas by 20.5% in the fourth quarter. ProShare Advisors LLC now owns 1,513,945 shares of the business services provider's stock valued at $284,728,000 after purchasing an additional 257,762 shares during the last quarter. Prossimo Advisors LLC bought a new stake in Cintas in the fourth quarter valued at about $620,000. Finally, Integrated Investment Consultants LLC bought a new stake in Cintas in the fourth quarter valued at about $235,000. Institutional investors own 63.46% of the company's stock.

Cintas Stock Up 3.7%

NASDAQ:CTAS opened at $174.51 on Tuesday. 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 company has a market cap of $69.82 billion, a PE ratio of 49.30, a PEG ratio of 2.96 and a beta of 0.96. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $229.24. The stock has a 50-day simple moving average of $177.14 and a 200 day simple moving average of $185.62.

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 analysts' consensus estimates of $1.24. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas's quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. On average, sell-side analysts expect that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently declared 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. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas's dividend payout ratio (DPR) is currently 50.85%.

Analyst Ratings Changes

A number of research firms recently commented on CTAS. Argus upgraded Cintas to a "strong-buy" rating in a report on Wednesday, January 21st. Robert W. Baird upgraded Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. Bank of America started coverage on Cintas in a report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price target for the company. Stifel Nicolaus lowered their price target on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a report on Thursday, March 26th. Finally, UBS Group restated a "buy" rating on shares of Cintas in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $215.17.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.90% of the stock is currently owned by corporate insiders.

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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