Cintas Co. (NASDAQ:CTAS) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 50.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,940 shares of the business services provider's stock after selling 1,992 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Cintas were worth $354,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after purchasing an additional 219,809 shares during the last quarter. Norges Bank acquired a new stake in shares of Cintas during the 4th quarter worth approximately $877,216,000. Franklin Resources Inc. increased its holdings in Cintas by 264.7% in 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 buying an additional 2,379,932 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cintas by 137.5% in the 3rd 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 period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cintas by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,942,751 shares of the business services provider's stock valued at $354,941,000 after buying an additional 47,829 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

Cintas stock traded down $0.32 during mid-day trading on Tuesday, reaching $209.30. The company had a trading volume of 390,988 shares, compared to its average volume of 1,690,410. The company has a market capitalization of $84.51 billion, a P/E ratio of 50.52, a P/E/G ratio of 3.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock's 50-day simple moving average is $201.25 and its 200-day simple moving average is $204.28. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the prior year, the company earned $3.84 EPS. The firm's revenue was up 8.4% on a year-over-year basis. On average, equities analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Analyst Upgrades and Downgrades

Several research firms have commented on CTAS. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Robert W. Baird raised their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Bank of America initiated coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective on the stock. Morgan Stanley upped their price target on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company lifted their target price on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $213.62.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.00% of the stock is owned by insiders.

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.