Natixis lowered its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 77.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,824 shares of the business services provider's stock after selling 391,519 shares during the period. Natixis' holdings in Cintas were worth $20,430,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider's stock worth $1,199,000 after purchasing an additional 1,450 shares during the period. KMG Fiduciary Partners LLC grew its stake in Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider's stock worth $2,109,000 after buying an additional 6,341 shares during the period. JPMorgan Chase & Co. increased its position in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Annex Advisory Services LLC raised its stake in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider's stock valued at $23,283,000 after acquiring an additional 1,988 shares during the period. Finally, LVM Capital Management Ltd. MI lifted its holdings in shares of Cintas by 292.7% during the 4th quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider's stock valued at $1,002,000 after acquiring an additional 4,086 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday, March 27th. Bank of America started coverage on Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Morgan Stanley upped their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 price objective for the company. Finally, UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $213.62.
Check Out Our Latest Stock Analysis on CTAS
Insider Transactions at Cintas
In other news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were 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 of the company's stock, valued at $48,835,235.36. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.
Cintas Price Performance
Shares of CTAS traded down $1.25 during mid-day trading on Friday, reaching $208.50. The company had a trading volume of 477,605 shares, compared to its average volume of 1,690,141. The company has a market capitalization of $84.19 billion, a P/E ratio of 50.29, a P/E/G ratio of 3.98 and a beta of 1.20. The company's 50-day moving average is $201.51 and its 200-day moving average is $204.36. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.
Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the business earned $3.84 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.
Cintas Dividend Announcement
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 paid 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 currently 36.11%.
About Cintas
(
Free Report)
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.
Further Reading
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