Cintas Co. (NASDAQ:CTAS) Shares Sold by Commerce Bank

Commerce Bank decreased its holdings in Cintas Co. (NASDAQ:CTAS) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,491 shares of the business services provider’s stock after selling 941 shares during the quarter. Commerce Bank’s holdings in Cintas were worth $8,859,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock worth $1,544,822,000 after buying an additional 219,809 shares during the period. Invesco Ltd. raised its position in Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after acquiring an additional 296,059 shares during the period. Norges Bank purchased a new position in Cintas during the fourth quarter valued at $877,216,000. Franklin Resources Inc. grew its position in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

CTAS has been the topic of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. Bank of America assumed coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target for the company. Truist Financial raised their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. UBS Group increased their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Morgan Stanley boosted their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $213.62.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the company’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 transaction of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. This represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of Cintas 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 of the company’s stock, valued at $48,835,235.36. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Cintas Trading Up 0.5 %

Shares of Cintas stock opened at $205.76 on Friday. The stock has a 50 day moving average of $201.42 and a 200 day moving average of $204.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market capitalization of $83.08 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 3.98 and a beta of 1.20. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.84 EPS. As a group, research analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s payout ratio is 36.11%.

About Cintas

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.