TD Waterhouse Canada Inc. Sells 2,420 Shares of Cintas Co. (NASDAQ:CTAS)

TD Waterhouse Canada Inc. lowered its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,247 shares of the business services provider's stock after selling 2,420 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Cintas were worth $10,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Guardian Wealth Advisors LLC lifted its holdings in Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock valued at $318,000 after acquiring an additional 52 shares during the period. MGB Wealth Management LLC lifted its holdings in Cintas by 0.7% in the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock valued at $1,328,000 after acquiring an additional 52 shares during the period. TIAA Trust National Association lifted its holdings in Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock valued at $983,000 after acquiring an additional 52 shares during the period. Wellspring Financial Advisors LLC lifted its holdings in Cintas by 4.6% in the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after acquiring an additional 52 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its holdings in Cintas by 2.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider's stock valued at $512,000 after acquiring an additional 55 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

CTAS has been the subject of a number of analyst reports. Bank of America initiated coverage on Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target for the company. Royal Bank of Canada restated a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. UBS Group upped their price target on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley upped their price target on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Finally, Truist Financial upped their price target on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cintas currently has a consensus rating of "Hold" and an average price target of $213.62.

Cintas Price Performance

Cintas stock traded down $1.35 during midday trading on Friday, reaching $208.40. 1,172,829 shares of the stock traded hands, compared to its average volume of 1,697,375. The stock's fifty day moving average is $201.61 and its 200-day moving average is $204.32. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12. The stock has a market cap of $84.15 billion, a P/E ratio of 50.25, a PEG ratio of 3.98 and a beta of 1.20. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $3.84 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Thursday, May 15th. Cintas's payout ratio is 36.11%.

Insider Activity

In other news, COO Jim Rozakis sold 2,000 shares of the firm'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 value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm'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 completion of the sale, the director now directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

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.