American Century Companies Inc. trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 593,353 shares of the business services provider’s stock after selling 11,417 shares during the period. American Century Companies Inc. owned about 0.56% of Cintas worth $117,371,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of CTAS. Allianz Asset Management GmbH increased its stake in shares of Cintas by 6.6% in the 1st quarter. Allianz Asset Management GmbH now owns 95,649 shares of the business services provider’s stock worth $16,316,000 after acquiring an additional 5,899 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Cintas by 50.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 3,909 shares of the business services provider’s stock worth $723,000 after acquiring an additional 1,316 shares during the last quarter. Fulton Bank N.A. acquired a new stake in shares of Cintas in the 2nd quarter worth $207,000. State of Alaska Department of Revenue increased its stake in shares of Cintas by 22.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 20,096 shares of the business services provider’s stock worth $3,718,000 after acquiring an additional 3,658 shares during the last quarter. Finally, Pennsylvania Trust Co increased its stake in shares of Cintas by 1,369.9% in the 2nd quarter. Pennsylvania Trust Co now owns 17,271 shares of the business services provider’s stock worth $3,196,000 after acquiring an additional 16,096 shares during the last quarter. Institutional investors own 66.74% of the company’s stock.
A number of brokerages have issued reports on CTAS. Morgan Stanley raised their target price on Cintas from $178.00 to $183.00 and gave the stock a “sell” rating in a research note on Wednesday, September 26th. Barclays raised their price objective on Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 26th. Robert W. Baird set a $235.00 price objective on Cintas and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research downgraded Cintas from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Finally, Credit Suisse Group began coverage on Cintas in a research report on Friday, August 10th. They set a “neutral” rating and a $205.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Cintas currently has a consensus rating of “Buy” and a consensus price target of $196.33.
Shares of NASDAQ:CTAS opened at $179.22 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.10 and a quick ratio of 2.65. The stock has a market cap of $18.96 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. Cintas Co. has a 12-month low of $144.82 and a 12-month high of $217.34.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Tuesday, September 25th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.13. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.68 billion. Cintas had a return on equity of 24.13% and a net margin of 12.72%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $1.45 EPS. On average, sell-side analysts forecast that Cintas Co. will post 7.24 EPS for the current year.
The company also recently announced an annual dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be given a $2.05 dividend. This is an increase from Cintas’s previous annual dividend of $1.62. This represents a yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 8th. Cintas’s payout ratio is currently 27.27%.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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