Cintas Co. (NASDAQ:CTAS) Shares Sold by Barclays PLC

Barclays PLC lessened its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,062,607 shares of the business services provider's stock after selling 26,928 shares during the quarter. Barclays PLC owned 0.26% of Cintas worth $194,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CTAS. Norges Bank acquired a new position in Cintas during the fourth quarter valued at $877,216,000. Franklin Resources Inc. lifted its holdings in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock valued at $693,503,000 after buying an additional 2,379,932 shares during the period. JPMorgan Chase & Co. boosted 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 buying an additional 1,286,668 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in Cintas during the fourth quarter worth about $196,057,000. Finally, Assenagon Asset Management S.A. raised its position in Cintas by 2,729.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,285 shares of the business services provider's stock valued at $112,778,000 after acquiring an additional 595,469 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the company'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 sale, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 target price on the stock. Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 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 note on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target on the stock. Finally, UBS Group boosted their price objective on Cintas from $218.00 to $240.00 and gave the stock 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 issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $213.62.

Cintas Trading Up 0.5 %

Shares of NASDAQ CTAS traded up $1.04 during mid-day trading on Friday, reaching $205.76. 1,712,106 shares of the company's stock were exchanged, compared to its average volume of 1,699,841. The company's 50-day moving average is $201.41 and its 200-day moving average is $204.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market capitalization 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 Co. has a 52-week low of $162.16 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share 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 analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.84 earnings per share. Analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas's payout ratio is presently 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.