Cintas Co. (NASDAQ:CTAS) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its position in shares of Cintas Co. (NASDAQ:CTAS) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,030 shares of the business services provider’s stock after selling 294 shares during the period. Synovus Financial Corp’s holdings in Cintas were worth $2,746,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Guardian Wealth Advisors LLC boosted its position in shares of Cintas by 3.1% during the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after acquiring an additional 52 shares in the last quarter. MGB Wealth Management LLC boosted 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 purchasing an additional 52 shares in the last quarter. TIAA Trust National Association increased its stake 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 purchasing an additional 52 shares during the last quarter. Wellspring Financial Advisors LLC raised its holdings in Cintas by 4.6% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock worth $214,000 after purchasing an additional 52 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in shares of Cintas by 2.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock worth $512,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research 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 research report on Thursday, March 27th. Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Morgan Stanley lifted 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, Bank of America started coverage on Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $213.62.

Insider Transactions at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 256,528 shares of the company’s stock, valued at $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 15.00% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $209.62 on Tuesday. The stock has a fifty day moving average price of $201.25 and a 200 day moving average price of $204.28. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a market cap of $84.64 billion, a PE ratio of 50.54, a P/E/G ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last released its 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 net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the business earned $3.84 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s payout ratio is 36.11%.

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.