Gulf International Bank UK Ltd Sells 8,073 Shares of Cintas Corporation (NASDAQ:CTAS)

Gulf International Bank UK Ltd lowered its stake in Cintas Corporation (NASDAQ:CTAS) by 28.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,597 shares of the business services provider’s stock after selling 8,073 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Cintas were worth $4,233,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in Cintas in the 1st quarter worth about $41,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock worth $43,000 after purchasing an additional 181 shares during the period. Washington Trust Advisors Inc. bought a new position in Cintas in the 1st quarter worth about $46,000. Greykasell Wealth Strategies Inc. bought a new position in Cintas in the 1st quarter worth about $46,000. Finally, Wellington Shields & Co. LLC bought a new position in Cintas in the 1st quarter worth about $51,000. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $225.10 on Thursday. The stock has a market cap of $90.71 billion, a price-to-earnings ratio of 51.04, a P/E/G ratio of 3.85 and a beta of 1.03. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The stock’s 50-day moving average is $221.19 and its 200 day moving average is $211.80.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. Cintas’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $3.99 EPS. On average, sell-side analysts anticipate that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Cintas’s previous quarterly dividend of $0.39. Cintas’s payout ratio is 35.37%.

Analysts Set New Price Targets

Several research analysts have commented on CTAS shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $240.00 target price (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Argus upgraded Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. assumed coverage on Cintas in a research report on Monday, July 14th. They set an “overweight” rating and a $239.00 price target for the company. UBS Group lifted their price target on Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley lifted their price target on Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $224.54.

Insider Activity at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares of the company’s stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the transaction, the chief executive officer directly owned 622,712 shares in the company, valued at $137,557,080.80. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

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.