Cintas Co. (NASDAQ:CTAS) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in Cintas Co. (NASDAQ:CTAS) by 10.2% in the 1st quarter, Holdings Channel reports. The firm owned 23,955 shares of the business services provider’s stock after selling 2,717 shares during the period. OLD National Bancorp IN’s holdings in Cintas were worth $4,923,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. Cyrus J. Lawrence LLC acquired a new stake in Cintas in the 4th quarter valued at approximately $29,000. IAG Wealth Partners LLC increased its holdings in Cintas by 136.8% in the 4th 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. Newbridge Financial Services Group Inc. acquired a new stake in Cintas in the 4th quarter valued at approximately $34,000. Meeder Asset Management Inc. grew its stake in shares of Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after acquiring an additional 134 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Cintas in the fourth quarter worth $37,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 27,029 shares of the company’s stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

Cintas Stock Performance

Shares of CTAS stock opened at $227.66 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $212.71 and a 200 day moving average price of $205.46. The company has a market cap of $91.93 billion, a P/E ratio of 54.89, a PEG ratio of 3.98 and a beta of 1.07. Cintas Co. has a 12 month low of $169.46 and a 12 month high of $229.24.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. Argus upgraded shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Redburn Atlantic downgraded shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $213.88.

Cintas Company 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.