Cintas Co. (NASDAQ:CTAS) Shares Acquired by American Trust

American Trust grew its holdings in Cintas Co. (NASDAQ:CTAS) by 28.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 8,481 shares of the business services provider’s stock after buying an additional 1,885 shares during the period. American Trust’s holdings in Cintas were worth $5,827,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC acquired a new position in shares of Cintas in the 1st quarter valued at $29,000. Rise Advisors LLC acquired a new position in shares of Cintas in the 1st quarter valued at $30,000. Janiczek Wealth Management LLC lifted its stake in shares of Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 26 shares during the last quarter. Webster Bank N. A. purchased a new stake in shares of Cintas in the 1st quarter valued at $38,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Cintas in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 1,318 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total value of $914,309.78. Following the completion of the sale, the chief operating officer now directly owns 59,770 shares of the company’s stock, valued at approximately $41,463,046.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Ronald W. Tysoe sold 2,291 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $693.95, for a total value of $1,589,839.45. Following the completion of the sale, the director now directly owns 6,655 shares of the company’s stock, valued at approximately $4,618,237.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 1,318 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total value of $914,309.78. Following the sale, the chief operating officer now directly owns 59,770 shares of the company’s stock, valued at $41,463,046.70. The disclosure for this sale can be found here. Insiders sold a total of 4,709 shares of company stock valued at $3,346,441 in the last three months. 15.10% of the stock is currently owned by company insiders.

Cintas Stock Down 0.7 %

Shares of CTAS traded down $5.15 during mid-day trading on Friday, reaching $756.76. The company’s stock had a trading volume of 485,161 shares, compared to its average volume of 420,490. Cintas Co. has a 12-month low of $474.74 and a 12-month high of $773.95. The stock has a market cap of $76.26 billion, a PE ratio of 52.26, a price-to-earnings-growth ratio of 4.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The company’s 50 day moving average is $713.86 and its 200 day moving average is $670.04.

Cintas’s stock is going to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the business posted $3.33 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts anticipate that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas announced that its board has authorized a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $1.56 dividend. The ex-dividend date is Thursday, August 15th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio is presently 37.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a report on Friday, July 19th. Barclays boosted their price objective on Cintas from $700.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, July 19th. UBS Group boosted their price objective on Cintas from $790.00 to $874.00 and gave the company a “buy” rating in a report on Friday, July 19th. Truist Financial boosted their price objective on Cintas from $775.00 to $850.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $775.00 price objective (up previously from $750.00) on shares of Cintas in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $749.00.

Cintas Profile

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.