Norinchukin Bank The Trims Position in Cintas Co. (NASDAQ:CTAS)

Norinchukin Bank The lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,137 shares of the business services provider’s stock after selling 255 shares during the quarter. Norinchukin Bank The’s holdings in Cintas were worth $5,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sound Income Strategies LLC purchased a new stake in shares of Cintas in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new position in Cintas in the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new stake in Cintas in the fourth quarter worth about $31,000. IAG Wealth Partners LLC boosted its position in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the company’s 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 completion of the transaction, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. This represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm’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 sale, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. The trade was 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 insiders.

Analyst Ratings Changes

CTAS has been the subject of a number of research analyst reports. Robert W. Baird raised their target price on Cintas from $200.00 to $227.00 and gave the company a “neutral” 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. Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group raised 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $213.62.

Cintas Stock Up 0.5 %

Cintas stock opened at $205.76 on Friday. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12. The stock has a fifty day simple moving average of $201.42 and a two-hundred day simple moving average of $204.32. 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 market cap of $83.08 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $3.84 EPS. Equities analysts predict 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 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 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, May 15th. Cintas’s payout ratio is 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.