Banco Santander S.A. Grows Stake in Cintas Corporation $CTAS

Banco Santander S.A. raised its stake in Cintas Corporation (NASDAQ:CTAS) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,284 shares of the business services provider’s stock after purchasing an additional 8,575 shares during the quarter. Banco Santander S.A.’s holdings in Cintas were worth $21,870,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new position in Cintas in the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in Cintas in the fourth quarter valued at about $25,000. Triumph Capital Management purchased a new position in Cintas in the third quarter valued at about $29,000. Camelot Portfolios LLC purchased a new position in Cintas in the fourth quarter valued at about $26,000. Finally, Key Capital Management INC purchased a new position in Cintas in the fourth quarter valued at about $28,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of Cintas stock opened at $176.28 on Friday. The firm has a market cap of $70.53 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. The firm’s 50-day simple moving average is $173.55 and its 200-day simple moving average is $184.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75.

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

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given 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 (DPR) is presently 50.85%.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Bank of America assumed coverage on shares of Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target for the company. UBS Group reaffirmed a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a report on Wednesday, March 11th. Finally, Stifel Nicolaus lowered their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. One research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $215.17.

About Cintas

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.