UMB Bank n.a. Sells 6,565 Shares of Cintas Co. (NASDAQ:CTAS)

UMB Bank n.a. trimmed its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,985 shares of the business services provider's stock after selling 6,565 shares during the quarter. UMB Bank n.a.'s holdings in Cintas were worth $13,767,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CTAS. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas in the fourth quarter worth about $29,000. IAG Wealth Partners LLC lifted its stake in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after purchasing an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Cintas in the 4th quarter valued at $34,000. Meeder Asset Management Inc. grew its position in shares of Cintas by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Cintas during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Buying and Selling at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction on 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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction 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. The trade was 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 corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Robert W. Baird increased 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. Truist Financial lifted 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. Morgan Stanley increased their target price on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Finally, Citigroup started coverage on Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $213.88.

Cintas Stock Performance

Shares of CTAS stock opened at $227.66 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a fifty-two week low of $169.46 and a fifty-two week high of $229.24. The company has a market capitalization of $91.93 billion, a P/E ratio of 54.89, a PEG ratio of 3.98 and a beta of 1.07. The stock has a 50 day moving average price of $212.71 and a two-hundred day moving average price of $205.57.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share 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 analysts' expectations of $2.60 billion. During the same quarter in the prior year, the company posted $3.84 EPS. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, May 15th. Cintas's payout ratio is 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.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.