Shell Asset Management Co. Sells 670 Shares of Cintas Co. (NASDAQ:CTAS)

Shell Asset Management Co. lowered its stake in Cintas Co. (NASDAQ:CTAS) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,627 shares of the business services provider’s stock after selling 670 shares during the quarter. Shell Asset Management Co.’s holdings in Cintas were worth $5,970,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in Cintas by 1.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 64,299 shares of the business services provider’s stock valued at $24,563,000 after purchasing an additional 757 shares in the last quarter. Xponance Inc. increased its stake in Cintas by 12.6% during the 2nd quarter. Xponance Inc. now owns 13,442 shares of the business services provider’s stock valued at $5,135,000 after purchasing an additional 1,501 shares in the last quarter. HFR Wealth Management LLC bought a new stake in Cintas during the 2nd quarter valued at $10,611,000. Pekin Hardy Strauss Inc. bought a new stake in Cintas during the 2nd quarter valued at $216,000. Finally, Regentatlantic Capital LLC increased its stake in Cintas by 0.9% during the 2nd quarter. Regentatlantic Capital LLC now owns 5,801 shares of the business services provider’s stock valued at $2,216,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 63.62% of the company’s stock.

In other Cintas news, SVP Thomas E. Frooman sold 16,904 shares of the company’s stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $392.46, for a total transaction of $6,634,143.84. Following the sale, the senior vice president now directly owns 96,357 shares of the company’s stock, valued at $37,816,268.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.80% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on the stock. Credit Suisse Group lifted their price objective on shares of Cintas from $350.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, July 16th. Barclays lifted their price objective on shares of Cintas from $405.00 to $415.00 and gave the stock an “overweight” rating in a report on Friday, July 16th. Morgan Stanley lifted their price objective on shares of Cintas from $353.00 to $368.00 and gave the stock an “equal weight” rating in a report on Thursday. Royal Bank of Canada assumed coverage on shares of Cintas in a report on Thursday, September 2nd. They set an “outperform” rating and a $450.00 price objective on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Cintas in a report on Wednesday, September 15th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $402.11.

NASDAQ CTAS opened at $401.47 on Monday. The company has a market cap of $41.76 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 3.95 and a beta of 1.50. Cintas Co. has a 52 week low of $311.69 and a 52 week high of $409.80. The company has a quick ratio of 1.22, a current ratio of 1.47 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $393.37 and its two-hundred day simple moving average is $369.36.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, July 14th. The business services provider reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.17. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Cintas had a net margin of 15.61% and a return on equity of 30.22%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 earnings per share. As a group, equities research analysts anticipate that Cintas Co. will post 10.69 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Friday, August 13th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 12th. This is an increase from Cintas’s previous quarterly dividend of $0.75. This represents a $3.80 annualized dividend and a yield of 0.95%. Cintas’s dividend payout ratio is 37.11%.

About Cintas

Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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