BI Asset Management Fondsmaeglerselskab A S Lowers Stock Position in Cintas Corporation $CTAS

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 75.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,599 shares of the business services provider’s stock after selling 64,618 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cintas were worth $3,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Triumph Capital Management purchased a new position in shares of Cintas during the 3rd quarter valued at about $29,000. Camelot Portfolios LLC bought a new stake in Cintas in the fourth quarter worth $26,000. Key Capital Management INC purchased a new stake in Cintas during the fourth quarter valued at about $28,000. Ares Financial Consulting LLC bought a new position in shares of Cintas during the fourth quarter valued at about $32,000. Finally, Basepoint Wealth LLC bought a new position in shares of Cintas during the fourth quarter valued at about $34,000. 63.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.90% of the stock is currently owned by company insiders.

Cintas Price Performance

CTAS opened at $179.85 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The company has a market cap of $71.96 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. The stock has a fifty day simple moving average of $172.59 and a two-hundred day simple moving average of $184.49. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $229.24.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. Research analysts predict that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 50.85%.

Analyst Ratings Changes

CTAS has been the subject of a number of recent research reports. Citigroup lowered their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research note on Wednesday, March 11th. UBS Group reiterated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Stifel Nicolaus dropped their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Finally, Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $215.17.

Cintas Company 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.