Trust Point Inc. Sells 1,588 Shares of Cintas Corporation (NASDAQ:CTAS)

Trust Point Inc. trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 50.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,579 shares of the business services provider's stock after selling 1,588 shares during the quarter. Trust Point Inc.'s holdings in Cintas were worth $325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after purchasing an additional 108 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Cintas by 0.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock valued at $93,969,000 after buying an additional 3,504 shares during the period. Principal Securities Inc. raised its position in shares of Cintas by 71.7% during the fourth quarter. Principal Securities Inc. now owns 9,836 shares of the business services provider's stock worth $1,797,000 after acquiring an additional 4,107 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Cintas by 3.4% in the fourth quarter. Allworth Financial LP now owns 5,800 shares of the business services provider's stock worth $1,154,000 after acquiring an additional 192 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in Cintas by 20.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 7,137 shares of the business services provider's stock valued at $1,304,000 after acquiring an additional 1,209 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cintas

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

Cintas Stock Down 0.5%

CTAS stock opened at $221.32 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. Cintas Corporation has a fifty-two week low of $172.20 and a fifty-two week high of $229.24. The stock's 50 day simple moving average is $216.30 and its 200 day simple moving average is $205.50. The company has a market cap of $89.37 billion, a P/E ratio of 51.26, a price-to-earnings-growth ratio of 3.47 and a beta of 1.07.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the firm earned $3.84 earnings per share. Cintas's revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTAS. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Bank of America assumed coverage on shares of Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Truist Financial lifted their price objective on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Citigroup began coverage on Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cintas presently has an average rating of "Hold" and an average target price of $215.81.

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.

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