Insider Selling: Cintas Co. (NASDAQ:CTAS) Director Sells 2,291 Shares of Stock

Cintas Co. (NASDAQ:CTAS) Director Ronald W. Tysoe sold 2,291 shares of Cintas stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total value of $1,589,839.45. Following the sale, the director now directly owns 6,655 shares in the company, valued at $4,618,237.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded up $5.71 during midday trading on Thursday, hitting $696.25. The company had a trading volume of 286,615 shares, compared to its average volume of 351,269. The company has a market cap of $70.58 billion, a price-to-earnings ratio of 48.08, a PEG ratio of 3.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The company has a fifty day moving average of $656.06 and a two-hundred day moving average of $603.17. Cintas Co. has a 12-month low of $458.00 and a 12-month high of $704.84.

Cintas’s stock is scheduled 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 payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the company posted $3.14 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s dividend payout ratio is currently 37.29%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTAS. Truist Financial upped their price target on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Bank of America upped their price objective on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Robert W. Baird lifted their price objective on Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Barclays boosted their target price on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $661.21.

Institutional Investors Weigh In On Cintas

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Cintas by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after purchasing an additional 112,361 shares in the last quarter. FMR LLC raised its position in shares of Cintas by 5.5% during the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after buying an additional 123,468 shares during the last quarter. Norges Bank purchased a new position in shares of Cintas in the fourth quarter worth $872,895,000. Invesco Ltd. boosted its position in shares of Cintas by 17.4% during the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after acquiring an additional 151,783 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Cintas by 7.6% during the third quarter. Northern Trust Corp now owns 1,008,632 shares of the business services provider’s stock valued at $485,162,000 after acquiring an additional 71,482 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Company 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.