Swiss Life Asset Management Ltd Sells 4,906 Shares of Cintas Corporation $CTAS

Swiss Life Asset Management Ltd lowered its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,010 shares of the business services provider’s stock after selling 4,906 shares during the period. Swiss Life Asset Management Ltd’s holdings in Cintas were worth $18,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Cintas by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after acquiring an additional 564,487 shares during the period. Nordea Investment Management AB raised its stake in Cintas by 6.2% in the 4th quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock valued at $517,466,000 after acquiring an additional 158,785 shares during the period. Ameriprise Financial Inc. raised its stake in Cintas by 0.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock valued at $524,460,000 after acquiring an additional 12,841 shares during the period. Amundi raised its stake in Cintas by 39.0% in the 3rd quarter. Amundi now owns 2,223,411 shares of the business services provider’s stock valued at $442,548,000 after acquiring an additional 623,770 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in Cintas by 10.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,002,205 shares of the business services provider’s stock valued at $376,647,000 after acquiring an additional 181,952 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 1.4%

CTAS stock opened at $164.67 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The stock has a market capitalization of $65.88 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 2.94 and a beta of 0.96. The business’s fifty day moving average price is $180.56 and its two-hundred day moving average price is $186.44. Cintas Corporation has a fifty-two week low of $163.45 and a fifty-two week high of $229.24.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 41.47% and a net margin of 17.57%.The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.13 EPS. On average, equities analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.1%. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Analyst Ratings Changes

A number of research firms recently weighed in on CTAS. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Bank of America began coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target on the stock. Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and increased their price target for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. Finally, Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $215.17.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction 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 transaction, the director owned 22,448 shares in the company, 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 owned by insiders.

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.