Cintas Corporation $CTAS Shares Sold by Nations Financial Group Inc. IA ADV

Key Points

• Nations Financial Group cut its stake in Cintas by 90.2% in Q4, selling 16,273 shares and leaving 1,776 shares valued at $334,000, while institutional investors own about 63.46% of the stock.
• Cintas reported Q earnings of $1.24 EPS (in line with estimates) and revenue of $2.84 billion (up 8.9% YoY), and declared a quarterly dividend of $0.45 (annual $1.80, 1.0% yield; ex-dividend May 15, payable June 15).
• The stock carries a consensus "Hold" rating with an average price target of $215.17, and trades at a PE of 50.61 with a market cap of $71.68 billion.

Nations Financial Group Inc. IA ADV trimmed its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 90.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,776 shares of the business services provider's stock after selling 16,273 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Cintas were worth $334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new stake in Cintas during the third quarter worth about $29,000. Alpine Bank Wealth Management lifted its holdings in Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock valued at $34,000 after acquiring an additional 153 shares during the period. WPG Advisers LLC lifted its holdings in Cintas by 90.0% in the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock valued at $35,000 after acquiring an additional 81 shares during the period. Aventura Private Wealth LLC purchased a new stake in Cintas in the 4th quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC boosted its position in Cintas by 84.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 184 shares of the business services provider's stock worth $37,000 after purchasing an additional 84 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $179.17 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a fifty day moving average of $187.33 and a 200 day moving average of $188.46. The firm has a market cap of $71.68 billion, a PE ratio of 50.61, a PEG ratio of 3.15 and a beta of 1.01. Cintas Corporation has a one year low of $165.60 and a one year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the firm posted $1.13 earnings per share. The company's revenue was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Cintas Corporation will post 4.31 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 paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas's dividend payout ratio (DPR) is currently 50.85%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CTAS shares. Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, January 21st. Robert W. Baird upgraded shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective for the company in a research report on Wednesday, March 11th. Citigroup lowered their target price 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. Weiss Ratings cut Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. Finally, Bank of America started coverage on Cintas in a research note on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.