Cintas Co. (NASDAQ:CTAS – Get Free Report) CFO J. Michael Hansen sold 9,774 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $596.91, for a total transaction of $5,834,198.34. Following the sale, the chief financial officer now directly owns 37,732 shares of the company’s stock, valued at $22,522,608.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Cintas Stock Up 0.6 %
NASDAQ:CTAS traded up $3.78 during midday trading on Wednesday, reaching $606.21. 266,382 shares of the stock traded hands, compared to its average volume of 372,389. The business has a 50-day moving average of $542.08 and a two-hundred day moving average of $512.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 2.24. Cintas Co. has a 12-month low of $423.06 and a 12-month high of $607.79. The stock has a market capitalization of $61.74 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 3.46 and a beta of 1.28.
Cintas (NASDAQ:CTAS – Get Free Report) last posted its quarterly earnings data on Thursday, December 21st. The business services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.12. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the firm earned $3.12 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Cintas Co. will post 14.54 earnings per share for the current fiscal year.
Cintas Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.89%. Cintas’s dividend payout ratio (DPR) is currently 39.19%.
Institutional Trading of Cintas
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Cintas by 0.6% during the second quarter. BlackRock Inc. now owns 7,991,359 shares of the business services provider’s stock worth $3,972,345,000 after buying an additional 46,864 shares during the period. State Street Corp lifted its position in Cintas by 0.4% during the 2nd quarter. State Street Corp now owns 3,782,333 shares of the business services provider’s stock worth $1,880,122,000 after acquiring an additional 14,694 shares during the period. FMR LLC grew its stake in Cintas by 5.5% during the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after purchasing an additional 123,468 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Cintas by 5,584.1% in the second quarter. Osaic Holdings Inc. now owns 1,997,277 shares of the business services provider’s stock valued at $15,337,000 after purchasing an additional 1,962,139 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Cintas by 3.5% in the second quarter. Geode Capital Management LLC now owns 1,935,910 shares of the business services provider’s stock worth $959,846,000 after purchasing an additional 64,817 shares during the last quarter. 62.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have commented on CTAS shares. JPMorgan Chase & Co. upped their target price on shares of Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Royal Bank of Canada raised their price objective on Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday, December 22nd. Stifel Nicolaus upped their target price on Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. Bank of America dropped their price target on Cintas from $580.00 to $565.00 in a research report on Wednesday, September 27th. Finally, Robert W. Baird lifted their price objective on Cintas from $524.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 27th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and an average target price of $559.50.
About Cintas
Cintas Corporation provides 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.