Colonial Trust Co SC raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 14.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,448 shares of the business services provider’s stock after purchasing an additional 2,883 shares during the quarter. Colonial Trust Co SC’s holdings in Cintas were worth $4,222,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CTAS. Nemes Rush Group LLC purchased a new stake in shares of Cintas during the fourth quarter worth $25,000. Camelot Portfolios LLC purchased a new stake in shares of Cintas in the fourth quarter valued at about $26,000. Key Capital Management INC purchased a new stake in shares of Cintas in the fourth quarter valued at about $28,000. Meeder Asset Management Inc. grew its holdings in shares of Cintas by 226.7% in the fourth quarter. Meeder Asset Management Inc. now owns 147 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 102 shares during the period. Finally, Triumph Capital Management purchased a new stake in shares of Cintas in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. UBS Group reissued a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Citigroup dropped their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Stifel Nicolaus dropped their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Finally, Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $215.17.
Insider Activity
In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This 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 can be accessed through the SEC website. Corporate insiders own 14.90% of the company’s stock.
Cintas Trading Up 0.8%
Shares of CTAS stock opened at $181.88 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 firm has a market cap of $72.77 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 2.87 and a beta of 0.94. The company has a 50-day moving average of $173.46 and a two-hundred day moving average of $184.35. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $226.75.
Cintas (NASDAQ:CTAS – Get Free Report) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. Cintas’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 earnings per share. On average, analysts predict that Cintas Corporation will post 4.89 EPS for the current year.
Cintas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend 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.
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