Cintas Corporation $CTAS Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its Cintas stake by 25.3% in the fourth quarter, selling 30,100 shares and ending with 88,900 shares valued at about $16.7 million.
• Cintas reported solid quarterly results, posting EPS of $1.24 in line with estimates and revenue of $2.84 billion, up 8.9% year over year.
• The company also announced a quarterly dividend of $0.45 per share, payable June 15, while analyst sentiment remains mixed with a consensus rating of Hold and an average price target of $215.17.

Forsta AP Fonden cut its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,900 shares of the business services provider's stock after selling 30,100 shares during the quarter. Forsta AP Fonden's holdings in Cintas were worth $16,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTAS. First Trust Advisors LP boosted its holdings in Cintas by 2.5% in the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider's stock valued at $84,909,000 after purchasing an additional 10,249 shares during the last quarter. Prana Capital Management LP acquired a new position in Cintas in the 3rd quarter valued at about $14,312,000. Vanguard Group Inc. boosted 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 purchasing an additional 564,487 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Cintas in the 4th quarter valued at about $15,736,000. Finally, Johnson Investment Counsel Inc. raised its stake in shares of Cintas by 2.3% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 150,809 shares of the business services provider's stock valued at $30,955,000 after acquiring an additional 3,397 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of CTAS opened at $171.26 on Friday. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $229.24. The firm's 50 day moving average price is $172.93 and its 200 day moving average price is $184.84. The company has a market cap of $68.52 billion, a P/E ratio of 48.38, a PEG ratio of 3.02 and a beta of 0.96. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate 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 for 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 firm's revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend 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 company's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director directly owned 22,448 shares of the company's stock, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 1st. Bank of America initiated coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price target on the stock. Robert W. Baird raised shares of 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. Citigroup reduced their price target on shares of Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research note on Tuesday, March 31st. Finally, UBS Group reissued a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $215.17.

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.

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