Bank of New York Mellon Corp Raises Position in Cintas Corporation $CTAS

Bank of New York Mellon Corp grew its position in Cintas Corporation (NASDAQ:CTAS) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,265,028 shares of the business services provider’s stock after buying an additional 54,760 shares during the period. Bank of New York Mellon Corp owned approximately 0.57% of Cintas worth $425,984,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Camelot Portfolios LLC bought a new stake in shares of Cintas in the fourth quarter worth approximately $26,000. Key Capital Management INC bought a new stake in shares of Cintas in the fourth quarter worth approximately $28,000. Triumph Capital Management bought a new stake in shares of Cintas in the third quarter worth approximately $29,000. Ares Financial Consulting LLC bought a new stake in shares of Cintas in the fourth quarter worth approximately $32,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of Cintas in the fourth quarter worth approximately $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $179.96 on Friday. The firm has a 50 day moving average of $172.53 and a 200 day moving average of $184.52. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $72.00 billion, a price-to-earnings ratio of 50.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $229.24.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 earnings per share. On average, research analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s payout ratio is currently 50.85%.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director owned 22,448 shares of the company’s stock, valued at $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Bank of America initiated coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target for the company. UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Citigroup reduced their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Finally, Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $215.17.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.