Cintas Co. (NASDAQ:CTAS) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 6.1% during the first quarter, Holdings Channel reports. The firm owned 167,240 shares of the business services provider’s stock after selling 10,902 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cintas were worth $34,373,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas during the 4th quarter valued at about $29,000. IAG Wealth Partners LLC grew its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Cintas by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after purchasing an additional 134 shares during the period. OFI Invest Asset Management bought a new stake in shares of Cintas in the 4th quarter worth approximately $37,000. Finally, VSM Wealth Advisory LLC acquired a new position in Cintas during the 4th quarter valued at approximately $40,000. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas 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 in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were 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 directly owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Analyst Ratings Changes

CTAS has been the topic of several analyst reports. Citigroup began coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Argus raised shares of Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. The Goldman Sachs Group boosted their target price on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Morgan Stanley upped their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Finally, Truist Financial boosted their price objective on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $215.81.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $222.47 on Tuesday. Cintas Co. has a 1 year low of $172.20 and a 1 year high of $229.24. The firm has a market cap of $89.83 billion, a P/E ratio of 53.64, a PEG ratio of 3.98 and a beta of 1.07. The stock has a fifty day moving average price of $215.95 and a two-hundred day moving average price of $205.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.84 earnings per share. Research analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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

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.