Cintas Corporation (NASDAQ:CTAS) Shares Bought by ING Groep NV

Key Points

• ING Groep NV increased its holdings in Cintas Corporation by 35.6%, owning approximately 202,925 shares valued at $41.7 million after purchasing additional shares in the first quarter.
• Cintas reported earnings of $1.09 per share for the last quarter, exceeding estimates, with revenue of $2.67 billion, an 8% increase year-over-year.
• The company's quarterly dividend was raised to $0.45 per share from $0.39, with a current yield of 0.8% and a payout ratio of 35.37%.

ING Groep NV grew its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 35.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,925 shares of the business services provider's stock after purchasing an additional 53,289 shares during the quarter. ING Groep NV owned approximately 0.05% of Cintas worth $41,707,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CTAS. Brighton Jones LLC lifted its position in Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after buying an additional 108 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of Cintas by 0.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after purchasing an additional 3,504 shares in the last quarter. World Investment Advisors boosted its holdings in Cintas by 8.2% in the 4th quarter. World Investment Advisors now owns 9,488 shares of the business services provider's stock worth $1,733,000 after acquiring an additional 717 shares during the period. Arete Wealth Advisors LLC purchased a new stake in Cintas during the 4th quarter worth $208,000. Finally, Prudential PLC lifted its stake in shares of Cintas by 135.1% in the fourth quarter. Prudential PLC now owns 16,952 shares of the business services provider's stock worth $3,097,000 after acquiring an additional 9,741 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Trading Down 0.5%

Shares of NASDAQ CTAS opened at $221.50 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The business has a 50 day simple moving average of $221.43 and a 200 day simple moving average of $210.55. The stock has a market cap of $89.26 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 3.82 and a beta of 1.03.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.99 EPS. On average, research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.45 per share. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Cintas's payout ratio is currently 35.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTAS. Robert W. Baird upped their target price on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. UBS Group increased their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Morgan Stanley boosted their price target on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $224.54.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the sale, the director directly owned 21,945 shares of the company's stock, valued at approximately $4,904,049.15. The trade was a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the transaction, the chief executive officer owned 622,712 shares in the company, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Cintas Profile

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.

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