Cintas Corporation (NASDAQ:CTAS) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lowered its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 25.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,579 shares of the business services provider’s stock after selling 525 shares during the period. Grimes & Company Inc.’s holdings in Cintas were worth $324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cyrus J. Lawrence LLC purchased a new position in Cintas during the fourth quarter valued at approximately $29,000. IAG Wealth Partners LLC grew its stake in shares of Cintas by 136.8% during the 4th 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 during the period. Meeder Asset Management Inc. increased its holdings in shares of Cintas by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Cintas during the 4th quarter valued at approximately $37,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Cintas in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the business’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 approximately $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 27,029 shares in the company, 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. 15.00% of the stock is owned by corporate insiders.

Cintas Stock Performance

NASDAQ CTAS opened at $221.32 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The stock’s 50 day simple moving average is $216.30 and its 200-day simple moving average is $205.50. The company has a market cap of $89.37 billion, a PE ratio of 51.26, a price-to-earnings-growth ratio of 3.47 and a beta of 1.07. Cintas Corporation has a 1-year low of $172.20 and a 1-year high of $229.24.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the firm posted $3.84 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.70%. Cintas’s dividend payout ratio is presently 36.11%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CTAS shares. Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target on the stock. Wells Fargo & Company raised their target price on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday, March 27th. Truist Financial upped their price target on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Redburn Atlantic downgraded Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Finally, Robert W. Baird raised their price objective on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $215.81.

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.