EULAV Asset Management Sells 136,000 Shares of Cintas Corporation $CTAS

Key Points

• EULAV Asset Management cut its Cintas stake by 27.1% in the fourth quarter, selling 136,000 shares and leaving it with 365,635 shares worth about $68.8 million.
• Other institutional investors have been активно building positions in CTAS, including Norges Bank and several hedge funds that reported large increases in ownership; institutional investors now own 63.46% of the stock.
• Cintas posted quarterly EPS of $1.24, in line with estimates, on revenue of $2.84 billion, and the company also declared a quarterly dividend of $0.45 per share, payable June 15.

EULAV Asset Management reduced its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 27.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 365,635 shares of the business services provider's stock after selling 136,000 shares during the period. Cintas makes up about 1.8% of EULAV Asset Management's investment portfolio, making the stock its 13th largest position. EULAV Asset Management owned about 0.09% of Cintas worth $68,765,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CTAS. Norges Bank bought a new position in Cintas in the 4th quarter worth approximately $923,672,000. Two Sigma Investments LP increased its position in Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider's stock worth $208,682,000 after buying an additional 998,963 shares during the period. SG Americas Securities LLC increased its position in Cintas by 2,653.0% in the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider's stock worth $188,640,000 after buying an additional 966,597 shares during the period. Voloridge Investment Management LLC increased its position in Cintas by 275.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider's stock worth $230,556,000 after buying an additional 823,885 shares during the period. Finally, Freestone Grove Partners LP increased its position in Cintas by 5,341.8% in the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider's stock worth $153,352,000 after buying an additional 733,380 shares during the period. 63.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 14.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTAS. Citigroup dropped their price target on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research report on Tuesday, March 31st. Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research report on Thursday, March 26th. Bank of America started coverage on Cintas in a research report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price target on the stock. UBS Group restated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Finally, Robert W. Baird upgraded Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective on the stock in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $215.17.

Cintas Stock Performance

CTAS opened at $179.85 on Friday. The stock has a market cap of $71.96 billion, a PE ratio of 50.81, a P/E/G ratio of 2.86 and a beta of 0.94. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $229.24. The stock's 50 day simple moving average is $172.59 and its 200-day simple moving average is $184.49.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.24. The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 earnings per share. Sell-side analysts forecast that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas's dividend payout ratio is 50.85%.

Cintas Company 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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