BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 19.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,005 shares of the business services provider’s stock after selling 9,494 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cintas were worth $7,913,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Global X Management Co LLC grew its stake in shares of Cintas by 23.3% in the 2nd quarter. Global X Management Co LLC now owns 2,894 shares of the business services provider’s stock worth $536,000 after purchasing an additional 546 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Cintas by 30.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 11,262 shares of the business services provider’s stock worth $2,084,000 after acquiring an additional 2,626 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Cintas by 19.7% in the second quarter. Toronto Dominion Bank now owns 55,976 shares of the business services provider’s stock worth $10,357,000 after acquiring an additional 9,199 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Cintas by 105.2% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,375 shares of the business services provider’s stock worth $254,000 after acquiring an additional 705 shares in the last quarter. Finally, Pensionfund Sabic purchased a new position in shares of Cintas in the third quarter worth approximately $1,721,000. 66.37% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on CTAS. Royal Bank of Canada began coverage on shares of Cintas in a research report on Monday, November 19th. They issued an “outperform” rating and a $215.00 target price on the stock. Robert W. Baird set a $235.00 target price on shares of Cintas and gave the stock a “buy” rating in a research report on Tuesday, October 30th. BidaskClub downgraded shares of Cintas from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 19th. Credit Suisse Group began coverage on shares of Cintas in a research report on Friday, August 10th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of Cintas from $178.00 to $183.00 and gave the stock a “sell” rating in a research report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $202.17.
Cintas stock opened at $171.40 on Friday. The company has a market capitalization of $19.19 billion, a PE ratio of 28.86, a PEG ratio of 2.06 and a beta of 1.03. The company has a current ratio of 3.10, a quick ratio of 2.65 and a debt-to-equity ratio of 0.76. Cintas Co. has a fifty-two week low of $147.38 and a fifty-two week high of $217.34.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Tuesday, September 25th. The business services provider reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.13. Cintas had a net margin of 12.72% and a return on equity of 24.13%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Cintas Co. will post 7.24 earnings per share for the current fiscal year.
The business also recently disclosed an annual dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 9th were given a dividend of $2.05 per share. The ex-dividend date of this dividend was Thursday, November 8th. This is an increase from Cintas’s previous annual dividend of $1.62. This represents a yield of 1.13%. Cintas’s payout ratio is presently 34.51%.
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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