Fifth Third Bancorp Lowers Stock Holdings in Cintas Corporation $CTAS

Key Points

• Fifth Third Bancorp cut its position in Cintas by 4.5% in Q4, selling 26,266 shares and ending the period with 557,977 shares (about 0.14% of the company) valued at roughly $104.94 million.
• Q1 results: Cintas reported $1.24 EPS (meeting consensus) and revenue of $2.84 billion, up 8.9% year-over-year and slightly above analysts' revenue expectations.
• The company declared a quarterly dividend of $0.45 (annualized $1.80, ~1.0% yield; ex-dividend May 15, payable June 15), while analysts' ratings range widely and the market consensus price target is $215.17 (average rating: Hold).

Fifth Third Bancorp cut its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,977 shares of the business services provider's stock after selling 26,266 shares during the quarter. Fifth Third Bancorp owned 0.14% of Cintas worth $104,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Richardson Financial Services Inc. lifted its position in shares of Cintas by 1.1% during the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider's stock worth $951,000 after purchasing an additional 54 shares in the last quarter. Woodward Diversified Capital LLC grew its holdings in shares of Cintas by 4.7% in the third quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider's stock valued at $252,000 after purchasing an additional 55 shares in the last quarter. Mather Group LLC. increased its stake in Cintas by 1.4% during the 4th quarter. Mather Group LLC. now owns 4,381 shares of the business services provider's stock worth $824,000 after buying an additional 59 shares during the period. Oakworth Capital Inc. increased its stake in Cintas by 4.8% during the 3rd quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider's stock worth $267,000 after buying an additional 60 shares during the period. Finally, Pure Financial Advisors LLC boosted its position in Cintas by 5.8% in the 3rd quarter. Pure Financial Advisors LLC now owns 1,135 shares of the business services provider's stock valued at $233,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Up 0.4%

Cintas stock opened at $174.71 on Friday. The stock has a market cap of $69.90 billion, a PE ratio of 49.35, a P/E/G ratio of 3.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The stock's fifty day moving average is $183.59 and its two-hundred day moving average is $187.22. Cintas Corporation has a 1-year low of $165.60 and a 1-year high of $229.24.

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, hitting the consensus estimate 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 period in the prior year, the firm posted $1.13 EPS. The business's quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas's dividend payout ratio is 50.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company upgraded Cintas from a "cautious" rating to an "overweight" rating and increased their price objective for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. Citigroup reduced 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. UBS Group reissued a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Stifel Nicolaus cut their target price on shares of Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, January 21st. One equities 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $215.17.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, 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 document filed with the SEC, which is available at this hyperlink. 14.90% of the stock is owned by corporate insiders.

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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