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

Grimes & Company Inc. cut its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 25.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTAS. MJP Associates Inc. ADV increased its holdings in Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after purchasing an additional 50 shares during the last quarter. TIAA Trust National Association boosted its position in shares of Cintas by 1.0% during the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after buying an additional 52 shares during the period. Wellspring Financial Advisors LLC grew its stake in shares of Cintas by 4.6% in the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after buying an additional 52 shares in the last quarter. Johnson Financial Group Inc. grew its stake in shares of Cintas by 7.7% in the fourth quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider’s stock valued at $146,000 after buying an additional 52 shares in the last quarter. Finally, Portside Wealth Group LLC raised its holdings in shares of Cintas by 4.2% in the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider’s stock valued at $270,000 after buying an additional 53 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

CTAS stock opened at $221.32 on Wednesday. The firm has a 50 day moving average of $216.30 and a 200-day moving average of $205.50. The company has a market cap of $89.37 billion, a price-to-earnings ratio of 51.26, a PEG ratio of 3.47 and a beta of 1.07. Cintas Corporation has a 12-month low of $172.20 and a 12-month high of $229.24. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the firm posted $3.84 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTAS shares. Robert W. Baird raised their target price on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Bank of America initiated coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $240.00 price target (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Finally, UBS Group boosted their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $215.81.

Insider Buying and Selling at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The stock was 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 owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 27,029 shares of the company’s stock, valued at $5,647,979.84. This represents a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

About Cintas

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.