Mizuho Markets Americas LLC Grows Stock Holdings in Cintas Corporation $CTAS

Key Points

• Mizuho Markets Americas LLC massively increased its stake in Cintas in the fourth quarter, boosting holdings by 9,200.6% to 117,745 shares worth about $22.1 million.
• Cintas reported solid quarterly results, with earnings per share of $1.24 matching estimates and revenue of $2.84 billion slightly above expectations; revenue rose 8.9% year over year.
• The company declared a quarterly dividend of $0.45 per share, while analysts currently have a mixed view on the stock with a consensus rating of Hold and an average price target of $215.17.

Mizuho Markets Americas LLC boosted its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 9,200.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 117,745 shares of the business services provider's stock after acquiring an additional 116,479 shares during the period. Mizuho Markets Americas LLC's holdings in Cintas were worth $22,144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after buying an additional 108 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock valued at $321,000 after buying an additional 428 shares during the period. Gamco Investors INC. ET AL purchased a new stake in shares of Cintas during the 2nd quarter valued at $625,000. Treasurer of the State of North Carolina grew its stake in shares of Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock valued at $47,291,000 after buying an additional 35,781 shares during the period. Finally, Ieq Capital LLC grew its stake in shares of Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock valued at $20,710,000 after buying an additional 31,068 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the business's stock in a transaction 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 owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.90% of the stock is owned by corporate insiders.

Cintas Stock Up 0.3%

NASDAQ CTAS opened at $172.93 on Friday. The stock has a market cap of $69.19 billion, a PE ratio of 48.85, a P/E/G ratio of 3.03 and a beta of 0.96. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $229.24. The business has a 50 day moving average price of $174.93 and a two-hundred day moving average price of $185.28. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting analysts' consensus estimates of $1.24. The firm had revenue of $2.84 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. As a group, sell-side analysts predict that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Cintas in a research note on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Weiss Ratings cut shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 1st. Robert W. Baird raised shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. Finally, Citigroup lowered their price objective on shares of Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research note on Tuesday, March 31st. One 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $215.17.

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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