Thomasville National Bank Takes Position in Cintas Co. (NASDAQ:CTAS)

Thomasville National Bank purchased a new position in Cintas Co. (NASDAQ:CTAS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,358 shares of the business services provider’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Cintas by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock worth $1,544,822,000 after acquiring an additional 219,809 shares during the period. Invesco Ltd. lifted its position in Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock valued at $935,146,000 after purchasing an additional 296,059 shares in the last quarter. Norges Bank bought a new stake in Cintas during the fourth quarter valued at about $877,216,000. Northern Trust Corp increased its position in Cintas by 13.1% in the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider’s stock worth $743,048,000 after buying an additional 472,069 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider’s stock worth $667,919,000 after buying an additional 115,268 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at $48,835,235.36. This represents a 0.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 trade 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 insiders.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $221.98 on Friday. The firm has a fifty day simple moving average of $215.30 and a two-hundred day simple moving average of $205.67. Cintas Co. has a 52 week low of $171.26 and a 52 week high of $229.24. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $89.63 billion, a P/E ratio of 53.52, a PEG ratio of 3.98 and a beta of 1.08.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 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 quarter last year, the firm earned $3.84 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Argus raised shares of Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. UBS Group increased their price objective 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. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 price objective (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Finally, Morgan Stanley lifted their target price on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $215.81.

Cintas 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.