APG Asset Management N.V. Acquires 172,134 Shares of Cintas Co. (NASDAQ:CTAS)

APG Asset Management N.V. grew its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 141.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 294,202 shares of the business services provider's stock after acquiring an additional 172,134 shares during the quarter. APG Asset Management N.V. owned 0.07% of Cintas worth $51,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC boosted its holdings in shares of Cintas by 477.6% in the fourth quarter. Advisory Services Network LLC now owns 9,958 shares of the business services provider's stock worth $1,819,000 after acquiring an additional 8,234 shares during the period. Abacus FCF Advisors LLC bought a new stake in shares of Cintas during the fourth quarter valued at about $3,824,000. Bank of Nova Scotia lifted its holdings in shares of Cintas by 47.2% in the fourth quarter. Bank of Nova Scotia now owns 101,459 shares of the business services provider's stock worth $18,537,000 after buying an additional 32,514 shares in the last quarter. FIL Ltd grew its stake in Cintas by 62.2% during the fourth quarter. FIL Ltd now owns 20,244 shares of the business services provider's stock valued at $3,699,000 after acquiring an additional 7,764 shares in the last quarter. Finally, Southeast Asset Advisors LLC increased its holdings in Cintas by 20.2% during the 4th quarter. Southeast Asset Advisors LLC now owns 1,192 shares of the business services provider's stock worth $218,000 after acquiring an additional 200 shares during the period. 63.46% of the stock is owned by institutional investors.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.00% of the company's stock.

Cintas Stock Performance

CTAS stock traded up $2.84 during midday trading on Monday, reaching $208.88. 622,856 shares of the company's stock traded hands, compared to its average volume of 1,689,430. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12. The stock's 50-day moving average is $201.09 and its 200 day moving average is $204.23. The stock has a market cap of $84.34 billion, a P/E ratio of 50.36, a PEG ratio of 3.98 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

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

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas's dividend payout ratio (DPR) is 36.11%.

Analyst Ratings Changes

Several equities analysts recently commented on CTAS shares. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Bank of America started coverage on Cintas in a research note on Thursday. They set a "buy" rating and a $250.00 price objective on the stock. Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price target for the company. The Goldman Sachs Group lifted their price target on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Robert W. Baird lifted their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $213.62.

About Cintas

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.