US Bancorp DE Has $44.45 Million Holdings in Cintas Corporation (NASDAQ:CTAS)

Key Points

• US Bancorp DE reduced its stake in Cintas Corporation by 1.5%, holding approximately $44.45 million worth of shares after selling 3,239 shares in the first quarter.
• Several analysts have adjusted their ratings on Cintas, with target prices ranging from $171 to $255, while the consensus rating remains a "Hold" with a target price of $224.54.
• Cintas announced an increase in its quarterly dividend from $0.39 to $0.45 per share, marking a 5.1% increase and reflecting a yield of 0.8%.

US Bancorp DE cut its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,231 shares of the business services provider's stock after selling 3,239 shares during the period. US Bancorp DE owned approximately 0.05% of Cintas worth $44,445,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after purchasing an additional 181 shares during the period. Washington Trust Advisors Inc. bought a new position in Cintas during the first quarter worth about $46,000. Wellington Shields & Co. LLC bought a new position in Cintas during the first quarter worth about $51,000. Olde Wealth Management LLC bought a new position in Cintas during the first quarter worth about $55,000. Finally, Carolinas Wealth Consulting LLC lifted its holdings in Cintas by 855.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 344 shares of the business services provider's stock worth $63,000 after acquiring an additional 308 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. JPMorgan Chase & Co. assumed coverage on Cintas in a report on Monday, July 14th. They set an "overweight" rating and a $239.00 target price on the stock. Morgan Stanley lifted their target price on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. UBS Group boosted their price target on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of "Hold" and an average target price of $224.54.

Cintas Stock Performance

Shares of Cintas stock opened at $221.50 on Friday. Cintas Corporation has a one year low of $180.78 and a one year high of $229.24. The firm has a market cap of $89.26 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 3.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The stock's 50-day moving average is $221.43 and its 200-day moving average is $210.36.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the company posted $3.99 earnings per share. Cintas's revenue was up 8.0% on a year-over-year basis. Equities analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, August 15th. This is a boost from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.8%. Cintas's dividend payout ratio is currently 40.82%.

Insider Buying and Selling

In related news, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the sale, the chief executive officer owned 622,712 shares in the company, valued at approximately $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the sale, the director owned 21,945 shares in the company, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

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.

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