KBC Group NV Sells 77,827 Shares of Cintas Corporation $CTAS

Key Points

• KBC Group NV trimmed its stake in Cintas by 10.9%, selling 77,827 shares during Q4 and now holds 638,730 shares (about 0.16%) worth roughly $120.13 million.
• Cintas reported Q1 results with EPS $1.24 (in line with estimates) and revenue of $2.84 billion, up 8.9% year-over-year, with a 41.47% ROE and 17.57% net margin.
• The company declared a quarterly dividend of $0.45 per share (annualized $1.80, ~1.0% yield) payable June 15, with record and ex-dividend dates on May 15.

KBC Group NV trimmed its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 638,730 shares of the business services provider's stock after selling 77,827 shares during the quarter. KBC Group NV owned approximately 0.16% of Cintas worth $120,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of Cintas during the 3rd quarter worth approximately $29,000. Alpine Bank Wealth Management lifted its stake 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 purchasing an additional 153 shares during the last quarter. Aventura Private Wealth LLC bought a new position in Cintas during the fourth quarter valued at $34,000. WPG Advisers LLC grew its holdings in Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock valued at $35,000 after purchasing an additional 81 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in Cintas by 61.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 189 shares of the business services provider's stock worth $36,000 after buying an additional 72 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTAS. Weiss Ratings lowered Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 1st. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, January 21st. Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price objective on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $206.00 price objective on shares of Cintas in a report on Friday, December 19th. Finally, Citigroup cut their target price on shares of Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research report on Tuesday, March 31st. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $215.17.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $176.46 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas Corporation has a fifty-two week low of $165.60 and a fifty-two week high of $229.24. The stock has a market cap of $70.60 billion, a PE ratio of 49.85, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01. The stock has a fifty day moving average of $187.99 and a 200-day moving average of $188.94.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (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 for the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter in the prior year, the firm posted $1.13 EPS. The firm's quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders 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 dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas's dividend payout ratio is presently 50.85%.

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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