Cintas Co. (NASDAQ:CTAS) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its stake in Cintas Co. (NASDAQ:CTAS) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,011 shares of the business services provider’s stock after selling 6,913 shares during the period. Shell Asset Management Co.’s holdings in Cintas were worth $5,483,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. Norges Bank acquired a new stake in Cintas in the fourth quarter valued at $877,216,000. JPMorgan Chase & Co. raised its holdings in shares of Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of Cintas during the fourth quarter worth $196,057,000. Barclays PLC raised its holdings in shares of Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock worth $224,312,000 after purchasing an additional 841,952 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Cintas during the fourth quarter worth $96,282,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred 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 transaction, the chief operating officer now owns 256,528 shares of the company’s stock, valued at $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares in the company, 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 Price Performance

CTAS stock opened at $218.49 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a one year low of $164.93 and a one year high of $228.12. The firm has a market capitalization of $88.22 billion, a PE ratio of 52.68, a P/E/G ratio of 3.98 and a beta of 1.09. The firm has a 50-day moving average of $204.03 and a two-hundred day moving average of $204.65.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data 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 company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the firm earned $3.84 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, May 15th. Cintas’s dividend payout ratio (DPR) is 36.11%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CTAS shares. The Goldman Sachs Group increased their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Morgan Stanley upped their price target 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. UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, Argus upgraded shares of Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and an average target price of $213.88.

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.