TD Waterhouse Canada Inc. Sells 2,420 Shares of Cintas Co. (NASDAQ:CTAS)

TD Waterhouse Canada Inc. lowered its stake in Cintas Co. (NASDAQ:CTAS) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,247 shares of the business services provider’s stock after selling 2,420 shares during the period. TD Waterhouse Canada Inc.’s holdings in Cintas were worth $10,817,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CTAS. China Universal Asset Management Co. Ltd. grew its holdings in Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after acquiring an additional 1,450 shares during the last quarter. KMG Fiduciary Partners LLC lifted its holdings in shares of Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Cintas by 137.5% in 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 last quarter. Annex Advisory Services LLC increased its holdings in Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after purchasing an additional 1,988 shares during the period. Finally, LVM Capital Management Ltd. MI raised its position in Cintas by 292.7% during the 4th quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock worth $1,002,000 after purchasing an additional 4,086 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CTAS shares. UBS Group increased their price target on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Bank of America assumed coverage on shares of Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 target price for the company. Truist Financial boosted 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. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $213.62.

Cintas Stock Down 2.6 %

CTAS stock opened at $200.41 on Tuesday. 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 Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The stock’s 50 day simple moving average is $201.34 and its 200 day simple moving average is $204.29. The company has a market cap of $80.92 billion, a P/E ratio of 48.32, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for 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. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s payout ratio is presently 36.11%.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. The trade was a 23.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

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.