Cintas Co. (CTAS) to Distribute Quarterly Dividend of $0.39 on June 13th

Cintas Co. (NASDAQ:CTAS) announced a quarterly dividend on Tuesday, April 8th, RTT News reports. Investors of record on Thursday, May 15th will be paid a dividend of 0.39 per share by the business services provider on Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 0.76%.

Cintas has increased its dividend by an average of 19.6% per year over the last three years and has raised its dividend every year for the last 42 years. Cintas has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cintas to earn $4.77 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 32.7%.

Cintas Stock Performance

NASDAQ:CTAS opened at $203.99 on Thursday. The firm has a market capitalization of $82.32 billion, a PE ratio of 49.18, a price-to-earnings-growth 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. The stock’s 50-day simple moving average is $200.97 and its 200 day simple moving average is $204.27. Cintas has a twelve month low of $162.16 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $3.84 EPS. On average, analysts anticipate that Cintas will post 4.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTAS. Morgan Stanley upped their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Robert W. Baird lifted their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price for the company. UBS Group raised their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group raised their price target on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $210.58.

Insiders Place Their Bets

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated 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 transaction, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cintas

An institutional investor recently raised its position in Cintas stock. Brighton Jones LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,268 shares of the business services provider’s stock after purchasing an additional 108 shares during the period. Brighton Jones LLC’s holdings in Cintas were worth $232,000 as of its most recent SEC filing. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.