BI Asset Management Fondsmaeglerselskab A S Sells 64,618 Shares of Cintas Corporation $CTAS

Key Points

• BI Asset Management Fondsmaeglerselskab A S sharply reduced its Cintas stake in the fourth quarter, selling 64,618 shares and cutting its position by 75.8% to 20,599 shares worth about $3.87 million.
• Cintas reported earnings of $1.24 per share, matching analyst expectations, while revenue came in slightly ahead at $2.84 billion and rose 8.9% year over year.
• The company announced a quarterly dividend of $0.45 per share, payable June 15, which implies an annual yield of about 1.0% at the current payout ratio of 50.85%.

BI Asset Management Fondsmaeglerselskab A S lowered its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 75.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,599 shares of the business services provider's stock after selling 64,618 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Cintas were worth $3,874,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of CTAS. One Capital Management LLC boosted its stake in Cintas by 0.9% during the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider's stock worth $1,159,000 after acquiring an additional 53 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Cintas by 1.1% in the 4th quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider's stock worth $951,000 after purchasing an additional 54 shares in the last quarter. Woodward Diversified Capital LLC lifted its holdings in shares of Cintas by 4.8% in the 4th quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider's stock worth $242,000 after purchasing an additional 59 shares in the last quarter. Mather Group LLC. grew its position in Cintas by 1.4% in the 4th quarter. Mather Group LLC. now owns 4,381 shares of the business services provider's stock valued at $824,000 after purchasing an additional 59 shares during the period. Finally, Ausdal Financial Partners Inc. grew its holdings in shares of Cintas by 2.8% during the second quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider's stock valued at $510,000 after buying an additional 63 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

Shares of Cintas stock opened at $179.85 on Monday. The business's fifty day simple moving average is $172.59 and its 200 day simple moving average is $184.49. 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 firm has a market capitalization of $71.96 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts' consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm earned $1.13 EPS. The company's revenue was up 8.9% compared to the same quarter last year. As a group, analysts anticipate that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The firm also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas's payout ratio is currently 50.85%.

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas 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 transaction, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of analyst reports. Weiss Ratings lowered shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 1st. Bank of America started coverage on Cintas in a report on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price objective for the company. Stifel Nicolaus cut their target price on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research report on Thursday, March 26th. UBS Group reissued a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Finally, Robert W. Baird upgraded Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently 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.

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