Gerald S. Adolph Sells 1,100 Shares of Cintas Co. (NASDAQ:CTAS) Stock

Cintas Co. (NASDAQ:CTAS) Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total transaction of $842,292.00. Following the sale, the director now directly owns 31,452 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Cintas Trading Up 0.9 %

Shares of Cintas stock traded up $6.55 during trading on Friday, reaching $761.39. The company’s stock had a trading volume of 266,430 shares, compared to its average volume of 373,563. Cintas Co. has a 52-week low of $474.74 and a 52-week high of $773.78. The company has a market cap of $77.25 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 4.02 and a beta of 1.31. The firm’s 50-day moving average is $705.76 and its two-hundred day moving average is $662.22. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47.

Cintas’s stock is scheduled to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.19. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.33 EPS. On average, sell-side analysts anticipate that Cintas Co. will post 16.62 earnings per share for the current year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a dividend of $1.56 per share. The ex-dividend date is Thursday, August 15th. This represents a $6.24 annualized dividend and a yield of 0.82%. This is a boost from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio is presently 37.29%.

Cintas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Cintas

Several institutional investors have recently added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the 2nd quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas in the 1st quarter worth about $29,000. Rise Advisors LLC purchased a new stake in shares of Cintas in the 1st quarter worth about $30,000. Janiczek Wealth Management LLC lifted its position in shares of Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after purchasing an additional 26 shares during the period. Finally, Webster Bank N. A. purchased a new stake in shares of Cintas in the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of analyst reports. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group increased their price target on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Stifel Nicolaus increased their price target on shares of Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Oppenheimer reissued a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Finally, Barclays increased their price target on shares of Cintas from $700.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $749.00.

About Cintas

Cintas Corporation provides 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.