Danske Bank A S Boosts Stock Holdings in Cintas Corporation $CTAS

Key Points

• Danske Bank increased its stake in Cintas by 3.2% in Q4, owning 204,501 shares after buying 6,337 more, a position worth about $38.46 million.
• Cintas reported quarterly EPS of $1.24 (in line with estimates) and revenue of $2.84 billion, up 8.9% year-over-year, and announced a quarterly dividend of $0.45 (annualized $1.80, ~1.1% yield).
• Institutional ownership is high at 63.46%, while analysts are mixed with an average rating of "Hold" and an average price target of $215.17; the stock has a market cap of $67.86 billion and a P/E of 47.91.

Danske Bank A S lifted its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,501 shares of the business services provider's stock after acquiring an additional 6,337 shares during the period. Danske Bank A S owned approximately 0.05% of Cintas worth $38,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CTAS. Brighton Jones LLC increased its holdings in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after purchasing an additional 108 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Cintas by 42.3% during the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock valued at $321,000 after purchasing an additional 428 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Cintas during the second quarter valued at $625,000. Treasurer of the State of North Carolina increased its holdings in Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock worth $47,291,000 after buying an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock worth $20,710,000 after buying an additional 31,068 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of Cintas stock opened at $169.61 on Friday. The stock has a market cap of $67.86 billion, a P/E ratio of 47.91, a P/E/G ratio of 3.08 and a beta of 0.97. 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 stock's fifty day moving average is $183.59 and its 200 day moving average is $187.22. 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 issued its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting analysts' consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. The business's quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $0.45 dividend. 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 currently 50.85%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CTAS shares. Wells Fargo & Company upgraded shares of Cintas from a "cautious" rating to an "overweight" rating and upped their target price for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. UBS Group reaffirmed a "buy" rating on shares of Cintas in a report on Thursday, March 12th. Stifel Nicolaus reduced their price objective on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. Weiss Ratings downgraded Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 1st. Finally, Robert W. Baird raised Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 target price on the stock in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $215.17.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the firm'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 owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.90% of the company's stock.

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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