Achmea Investment Management B.V. Boosts Holdings in Cintas Corporation (NASDAQ:CTAS)

Achmea Investment Management B.V. boosted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,670 shares of the business services provider's stock after purchasing an additional 8,719 shares during the quarter. Achmea Investment Management B.V.'s holdings in Cintas were worth $30,145,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CTAS. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the fourth quarter worth about $29,000. IAG Wealth Partners LLC boosted its position in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after acquiring an additional 104 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. OFI Invest Asset Management bought a new stake in Cintas in the fourth quarter worth $37,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after purchasing an additional 181 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 0.5%

NASDAQ CTAS opened at $220.44 on Friday. The company's 50-day simple moving average is $218.34 and its two-hundred day simple moving average is $205.60. Cintas Corporation has a one year low of $172.20 and a one year high of $229.24. The company has a market capitalization of $89.01 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.53% and a return on equity of 41.30%. Cintas's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.84 EPS. Equities analysts forecast that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, May 15th. Cintas's payout ratio is 36.11%.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Argus upgraded Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. The Goldman Sachs Group raised their price target on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $215.81.

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director now directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. This represents a 23.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other 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, as well as sells uniforms.

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