Cintas Corporation $CTAS Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 557,977 shares of the business services provider’s stock after selling 26,266 shares during the quarter. Fifth Third Bancorp’s holdings in Cintas were worth $104,939,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Camelot Portfolios LLC purchased a new position in Cintas during the 4th quarter worth approximately $26,000. Key Capital Management INC purchased a new stake in Cintas in the fourth quarter valued at approximately $28,000. Triumph Capital Management acquired a new stake in shares of Cintas in the third quarter valued at approximately $29,000. Ares Financial Consulting LLC acquired a new stake in shares of Cintas in the fourth quarter valued at approximately $32,000. Finally, Alpine Bank Wealth Management grew its position in shares of Cintas by 1,092.9% during the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock worth $34,000 after acquiring an additional 153 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several research reports. Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Bank of America initiated coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective on the stock. Wells Fargo & Company raised shares of Cintas from a “cautious” rating to an “overweight” rating and upped their target price for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research note on Wednesday, March 11th. Finally, Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $215.17.

Insider Transactions at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.90% of the stock is owned by corporate insiders.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $174.71 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The stock has a fifty day moving average price of $183.59 and a 200 day moving average price of $187.22. Cintas Corporation has a 1-year low of $165.60 and a 1-year high of $229.24. The company has a market cap of $69.90 billion, a PE ratio of 49.35, a P/E/G ratio of 3.06 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. During the same period in the previous year, the company posted $1.13 EPS. Cintas’s revenue was up 8.9% compared to the same quarter last year. Sell-side analysts forecast that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s dividend payout ratio is currently 50.85%.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.