Danske Bank A S Buys Shares of 198,164 Cintas Corporation $CTAS

Danske Bank A S purchased a new stake in Cintas Corporation (NASDAQ:CTAS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 198,164 shares of the business services provider’s stock, valued at approximately $40,675,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Cintas by 113.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 269 shares of the business services provider’s stock worth $55,000 after buying an additional 143 shares during the last quarter. GM Advisory Group LLC lifted its holdings in Cintas by 6.7% in the third quarter. GM Advisory Group LLC now owns 2,624 shares of the business services provider’s stock valued at $539,000 after acquiring an additional 165 shares during the last quarter. OmniStar Financial Group Inc. purchased a new position in Cintas in the third quarter worth approximately $726,000. Harvest Investment Services LLC grew its position in Cintas by 122.2% in the third quarter. Harvest Investment Services LLC now owns 14,249 shares of the business services provider’s stock worth $2,925,000 after acquiring an additional 7,837 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in Cintas by 70.1% during the third quarter. Kestra Private Wealth Services LLC now owns 28,503 shares of the business services provider’s stock worth $5,851,000 after acquiring an additional 11,751 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 3.8%

Cintas stock opened at $185.44 on Thursday. The firm has a market capitalization of $74.16 billion, a P/E ratio of 54.06, a P/E/G ratio of 3.48 and a beta of 0.95. The company has a current ratio of 1.71, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54. Cintas Corporation has a twelve month low of $180.39 and a twelve month high of $229.24. The stock’s fifty day simple moving average is $195.39 and its 200-day simple moving average is $192.92.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 18th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Cintas had a return on equity of 41.07% and a net margin of 17.58%.The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business posted $1.09 earnings per share. Cintas’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 52.48%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley reduced their target price on Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Bank of America started coverage on Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target for the company. Weiss Ratings raised Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Wells Fargo & Company upgraded shares of Cintas from a “cautious” rating to an “overweight” rating and boosted their price objective for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.25.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.