USA Financial Formulas Sells 11,109 Shares of Cintas Co. (NASDAQ:CTAS)

USA Financial Formulas cut its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 84.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,034 shares of the business services provider's stock after selling 11,109 shares during the quarter. USA Financial Formulas' holdings in Cintas were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Cintas by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after acquiring an additional 219,809 shares during the period. Invesco Ltd. raised its holdings in Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after acquiring an additional 296,059 shares during the period. Norges Bank bought a new stake in Cintas during the fourth quarter valued at about $877,216,000. Northern Trust Corp raised its holdings in Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after acquiring an additional 472,069 shares during the period. Finally, Royal Bank of Canada raised its holdings in Cintas by 3.3% during the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after acquiring an additional 115,268 shares during the period. 63.46% of the stock is owned by institutional investors.

Cintas Trading Down 0.7%

CTAS traded down $1.59 on Friday, hitting $221.98. The company had a trading volume of 1,252,851 shares, compared to its average volume of 1,707,350. The company has a market cap of $89.63 billion, a PE ratio of 53.52, a PEG ratio of 3.98 and a beta of 1.08. Cintas Co. has a 12-month low of $172.20 and a 12-month high of $229.24. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $215.30 and its 200 day simple moving average is $205.54.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the business posted $3.84 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Insider Buying and Selling at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction 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. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted their target price on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. The Goldman Sachs Group lifted their target price on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. UBS Group lifted their target price on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company lifted their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cintas currently has an average rating of "Hold" and a consensus target price of $215.81.

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.