Cintas Co. (NASDAQ:CTAS) Position Reduced by Bath Savings Trust Co

Bath Savings Trust Co cut its position in shares of Cintas Co. (NASDAQ:CTAS) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,815 shares of the business services provider’s stock after selling 456 shares during the quarter. Bath Savings Trust Co’s holdings in Cintas were worth $4,689,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CTAS. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas in the fourth quarter worth approximately $29,000. IAG Wealth Partners LLC lifted its position in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas in the fourth quarter worth approximately $34,000. Meeder Asset Management Inc. lifted its position in shares of Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after purchasing an additional 134 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Cintas in the fourth quarter worth approximately $37,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. Bank of America started coverage on Cintas in a report on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $213.88.

Cintas Trading Down 0.1%

Shares of CTAS stock opened at $224.75 on Friday. Cintas Co. has a 12 month low of $165.06 and a 12 month high of $228.12. 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 business’s 50 day moving average is $209.88 and its two-hundred day moving average is $205.33. The company has a market cap of $90.75 billion, a PE ratio of 54.19, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the company posted $3.84 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the firm’s stock in a transaction 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 sale, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm’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 completion of the sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. 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.