Cintas Corporation (NASDAQ:CTAS) Director Ronald W. Tysoe Sells 5,084 Shares

Key Points

• Ronald W. Tysoe, a director at Cintas Corporation, sold 5,084 shares for a total of $1,136,121.48, reducing his stake by 18.81%.
• Cintas recently announced an increase in its quarterly dividend from $0.39 to $0.45, which will be paid on September 15th, representing an annualized yield of 0.8%.
• Analysts have mixed ratings on Cintas, with a recent upgrade from Goldman Sachs raising the price target to $257.00 and a consensus average price target of $224.54.

Cintas Corporation (NASDAQ:CTAS - Get Free Report) Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Cintas Stock Performance

NASDAQ CTAS traded down $1.05 during midday trading on Friday, hitting $221.50. The company had a trading volume of 1,304,254 shares, compared to its average volume of 1,374,874. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $221.43 and a two-hundred day simple moving average of $210.46. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The stock has a market cap of $89.26 billion, a price-to-earnings ratio of 50.23, a P/E/G ratio of 3.48 and a beta of 1.03.

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

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.45 per share. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Cintas's payout ratio is currently 35.37%.

Institutional Investors Weigh In On Cintas

Several large investors have recently made changes to their positions in CTAS. WPG Advisers LLC acquired a new position in Cintas during the first quarter worth $27,000. Saudi Central Bank bought a new stake in shares of Cintas during the 1st quarter valued at approximately $29,000. Meeder Asset Management Inc. grew its holdings 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 during the last quarter. Stone House Investment Management LLC bought a new stake in Cintas during the 1st quarter worth approximately $41,000. Finally, Resources Management Corp CT ADV bought a new stake in shares of Cintas in the 1st quarter valued at $41,000. Institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley increased their price target on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Royal Bank Of Canada restated a "sector perform" rating and issued a $240.00 price target (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Finally, Robert W. Baird lifted their target price on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $224.54.

Cintas Company 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.