Cintas Co. (NASDAQ:CTAS) to Issue Quarterly Dividend of $0.39

Cintas Co. (NASDAQ:CTAS - Get Free Report) announced a quarterly dividend on Tuesday, April 8th, RTT News reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.39 per share by the business services provider on Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 15th.

Cintas has raised its dividend by an average of 19.6% per year over the last three years and has increased its dividend every year for the last 42 years. Cintas has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cintas to earn $4.77 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 32.7%.

Cintas Stock Performance

Shares of CTAS stock traded up $3.31 during trading hours on Friday, hitting $206.04. 2,116,050 shares of the company were exchanged, compared to its average volume of 1,691,893. 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 stock has a market capitalization of $83.20 billion, a price-to-earnings ratio of 49.68, a P/E/G ratio of 3.98 and a beta of 1.20. The firm has a fifty day simple moving average of $201.09 and a 200 day simple moving average of $204.25. Cintas has a 52-week low of $162.16 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The business 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%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business posted $3.84 earnings per share. Research analysts predict that Cintas will post 4.31 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was 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 of the company's stock, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.00% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cintas stock. Brighton Jones LLC raised its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 9.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,268 shares of the business services provider's stock after acquiring an additional 108 shares during the period. Brighton Jones LLC's holdings in Cintas were worth $232,000 as of its most recent SEC filing. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America started coverage on shares of Cintas in a research note on Thursday. They issued a "buy" rating and a $250.00 price objective for the company. Citigroup started coverage on Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. The Goldman Sachs Group increased their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $213.62.

About Cintas

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.