Ameritas Advisory Services LLC Raises Position in Cintas Corporation $CTAS

Key Points

• Ameritas Advisory Services LLC dramatically increased its stake in Cintas, boosting holdings by 4,710.6% in the fourth quarter to 13,566 shares valued at about $2.55 million.
• Cintas reported quarterly earnings of $1.24 EPS on revenue of $2.84 billion, meeting profit expectations and slightly topping revenue estimates, while revenue rose 8.9% year over year.
• Analyst sentiment remains mixed: the stock’s average rating is Hold with an average price target of $215.17, even as several firms cut targets and one upgraded the stock to outperform.

Ameritas Advisory Services LLC raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 4,710.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,566 shares of the business services provider's stock after buying an additional 13,284 shares during the period. Ameritas Advisory Services LLC's holdings in Cintas were worth $2,551,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Cintas by 2.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider's stock worth $20,501,000 after buying an additional 2,628 shares in the last quarter. First Trust Advisors LP grew its stake in Cintas by 2.5% during the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider's stock valued at $84,909,000 after acquiring an additional 10,249 shares in the last quarter. Prana Capital Management LP purchased a new position in Cintas during the third quarter valued at $14,312,000. Vanguard Group Inc. increased its holdings 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 last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Cintas in the 4th quarter worth $15,736,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CTAS. Robert W. Baird raised shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. Weiss Ratings downgraded Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Bank of America initiated coverage on Cintas in a report on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price target for the company. Finally, Citigroup reduced their price objective on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cintas currently has an average rating of "Hold" and an average target price of $215.17.

Cintas Stock Down 1.1%

Shares of NASDAQ CTAS opened at $163.55 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $229.24. The firm's 50-day moving average price is $179.08 and its 200-day moving average price is $186.04. The stock has a market capitalization of $65.43 billion, a price-to-earnings ratio of 46.20, a P/E/G ratio of 2.91 and a beta of 0.96.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly 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 firm's revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. On average, equities research analysts anticipate that Cintas Corporation will post 4.89 EPS 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 issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 15th. Cintas's dividend payout ratio is presently 50.85%.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm's stock in a transaction 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 sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.90% of the company's stock.

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.

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