Stock Traders Purchase Large Volume of Put Options on Cintas (NASDAQ:CTAS)

Cintas Co. (NASDAQ:CTAS - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 4,478 put options on the stock. This is an increase of 124% compared to the typical daily volume of 1,996 put options.

Cintas Stock Performance

Cintas stock traded down $21.60 during midday trading on Thursday, reaching $182.79. The stock had a trading volume of 6,208,660 shares, compared to its average volume of 1,503,445. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $73.72 billion, a PE ratio of 46.16, a P/E/G ratio of 4.15 and a beta of 1.33. Cintas has a 12 month low of $138.39 and a 12 month high of $228.12. The firm's 50-day moving average price is $214.74 and its 200 day moving average price is $202.86.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.61 earnings per share. As a group, research analysts predict that Cintas will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.85%. Cintas's dividend payout ratio (DPR) is currently 39.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its stake in Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC increased its position in shares of Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. raised its holdings in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider's stock worth $519,419,000 after acquiring an additional 1,904,926 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTAS. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a report on Tuesday, September 17th. Morgan Stanley upped their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a report on Thursday, September 26th. Barclays increased their price target on Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Finally, Royal Bank of Canada boosted their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Cintas has an average rating of "Hold" and a consensus price target of $200.77.

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.