Cintas Co. (NASDAQ:CTAS) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its position in shares of Cintas Co. (NASDAQ:CTAS) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,011 shares of the business services provider’s stock after selling 6,913 shares during the quarter. Shell Asset Management Co.’s holdings in Cintas were worth $5,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Cintas in the fourth quarter valued at about $877,216,000. JPMorgan Chase & Co. grew its position in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of Cintas in the fourth quarter valued at about $196,057,000. Barclays PLC grew its position in shares of Cintas by 340.1% in the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock valued at $224,312,000 after purchasing an additional 841,952 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Cintas in the fourth quarter valued at about $96,282,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTAS. Bank of America began 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. Truist Financial boosted 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. Citigroup initiated coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $213.88.

Cintas Price Performance

Cintas stock opened at $218.49 on Friday. Cintas Co. has a 1 year low of $164.93 and a 1 year high of $228.12. The firm has a 50 day moving average price of $204.03 and a 200 day moving average price of $204.65. The company has a market cap of $88.22 billion, a price-to-earnings ratio of 52.68, a PEG ratio of 3.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

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

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid 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 0.71%. Cintas’s dividend payout ratio is currently 36.11%.

Insiders Place Their Bets

In other news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 27,029 shares of the company’s stock, valued at $5,647,979.84. This trade represents 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 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.