M&T Bank Corp Sells 478 Shares of Cintas Co. (NASDAQ:CTAS)

M&T Bank Corp lessened its position in Cintas Co. (NASDAQ:CTAS – Get Rating) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,517 shares of the business services provider’s stock after selling 478 shares during the period. M&T Bank Corp’s holdings in Cintas were worth $12,623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTAS. Advisors Capital Management LLC bought a new position in Cintas during the third quarter valued at approximately $260,000. Glenmede Trust Co. NA raised its position in Cintas by 10.1% in the third quarter. Glenmede Trust Co. NA now owns 6,260 shares of the business services provider’s stock worth $2,429,000 after acquiring an additional 572 shares during the period. LWM Advisory Services LLC bought a new position in Cintas in the third quarter worth approximately $225,000. Captrust Financial Advisors raised its position in Cintas by 5.9% in the third quarter. Captrust Financial Advisors now owns 29,409 shares of the business services provider’s stock worth $11,416,000 after acquiring an additional 1,650 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its position in Cintas by 3.7% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,082 shares of the business services provider’s stock worth $1,196,000 after acquiring an additional 110 shares during the period. Institutional investors own 61.92% of the company’s stock.

Cintas Trading Down 2.1 %

NASDAQ CTAS opened at $432.34 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.53 and a current ratio of 1.86. The company has a market capitalization of $43.93 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 3.00 and a beta of 1.34. The company’s 50-day simple moving average is $439.91 and its two-hundred day simple moving average is $431.06. Cintas Co. has a one year low of $343.86 and a one year high of $470.23.

Cintas (NASDAQ:CTAS – Get Rating) last issued its quarterly earnings data on Wednesday, December 21st. The business services provider reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.09. Cintas had a net margin of 15.35% and a return on equity of 37.89%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $2.76 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts forecast that Cintas Co. will post 12.68 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, February 14th. Cintas’s dividend payout ratio is presently 37.43%.

Insiders Place Their Bets

In other Cintas news, CFO J. Michael Hansen sold 1,618 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $441.85, for a total transaction of $714,913.30. Following the sale, the chief financial officer now owns 30,132 shares of the company’s stock, valued at approximately $13,313,824.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Michael Lawrence Thompson sold 14,795 shares of the business’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $444.98, for a total value of $6,583,479.10. Following the completion of the transaction, the chief accounting officer now directly owns 23,318 shares in the company, valued at approximately $10,376,043.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO J. Michael Hansen sold 1,618 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $441.85, for a total transaction of $714,913.30. Following the completion of the sale, the chief financial officer now directly owns 30,132 shares of the company’s stock, valued at approximately $13,313,824.20. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Cintas from $495.00 to $530.00 in a research report on Wednesday, December 21st. Wells Fargo & Company raised their target price on shares of Cintas from $393.00 to $450.00 and gave the company an “equal weight” rating in a research note on Thursday, December 22nd. Royal Bank of Canada increased their price objective on shares of Cintas from $450.00 to $525.00 and gave the company an “outperform” rating in a research report on Monday, November 28th. Barclays increased their price objective on shares of Cintas from $435.00 to $500.00 in a research report on Friday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cintas from $490.00 to $507.00 and gave the company a “buy” rating in a research report on Thursday, December 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $476.10.

Cintas Company Profile

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Cintas Corp. engages in the provision of corporate identity uniforms 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 the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.