BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,505 shares of the business services provider's stock after purchasing an additional 8,551 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Cintas were worth $12,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. Norges Bank purchased a new position in shares of Cintas during the fourth quarter valued at about $877,216,000. JPMorgan Chase & Co. boosted its stake in Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Winslow Capital Management LLC purchased a new position in Cintas during the 4th quarter valued at approximately $196,057,000. Barclays PLC increased its stake in Cintas by 340.1% in the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock worth $224,312,000 after acquiring an additional 841,952 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Cintas in the 4th quarter worth approximately $96,282,000. Institutional investors own 63.46% of the company's stock.

Cintas Trading Up 1.6%

Shares of NASDAQ CTAS traded up $3.46 during midday trading on Tuesday, hitting $225.75. The company's stock had a trading volume of 681,157 shares, compared to its average volume of 1,705,834. Cintas Co. has a 12-month low of $164.93 and a 12-month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm has a market cap of $91.16 billion, a P/E ratio of 54.43, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The business's 50 day moving average is $207.97 and its two-hundred day moving average is $205.04.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.84 earnings per share. As a group, equities research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas's dividend payout ratio (DPR) is 36.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price for the company. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research note on Thursday, May 1st. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Citigroup initiated coverage on shares of Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 price target for the company. Finally, Robert W. Baird boosted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $213.88.

Insider Buying and Selling at Cintas

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

About Cintas

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.