Principal Financial Group Inc. Has $79.55 Million Stock Position in Cintas Corporation $CTAS

Key Points

• Principal Financial Group cut its Cintas stake by 9% in the fourth quarter, but still held 422,992 shares valued at about $79.6 million at the end of the period.
• Cintas reported strong quarterly results, with EPS of $1.24 matching estimates and revenue of $2.84 billion, up 8.9% from a year earlier.
• The company announced a quarterly dividend of $0.45 per share, payable June 15, while analysts currently have an average Hold rating and a consensus price target of $215.17.

Principal Financial Group Inc. reduced its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,992 shares of the business services provider's stock after selling 41,843 shares during the period. Principal Financial Group Inc. owned about 0.11% of Cintas worth $79,552,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Camelot Portfolios LLC purchased a new stake in shares of Cintas in the fourth quarter worth approximately $26,000. Key Capital Management INC purchased a new position in Cintas during the fourth quarter valued at approximately $28,000. Triumph Capital Management acquired a new position in Cintas in the 3rd quarter valued at approximately $29,000. Ares Financial Consulting LLC purchased a new stake in Cintas in the 4th quarter worth approximately $32,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Cintas during the 4th quarter valued at $34,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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 transaction of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company's stock, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.90% of the stock is owned by company insiders.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $170.04 on Friday. The business's 50-day simple moving average is $181.83 and its 200-day simple moving average is $186.85. 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 52 week low of $165.46 and a 52 week high of $229.24. The firm has a market cap of $68.03 billion, a price-to-earnings ratio of 48.03, a P/E/G ratio of 2.98 and a beta of 0.96.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share 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 firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the company earned $1.13 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities research analysts expect that Cintas Corporation will post 4.89 earnings per share for the current fiscal 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 paid 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 1.1%. Cintas's dividend payout ratio (DPR) is presently 50.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CTAS shares. Bank of America began coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price target on the stock. Robert W. Baird raised Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price target for the company in a research note on Wednesday, March 11th. Stifel Nicolaus lowered their price target on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Wells Fargo & Company upgraded Cintas from a "cautious" rating to an "overweight" rating and increased their price objective for the stock from $205.00 to $245.00 in a report on Wednesday, January 14th. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, January 21st. 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, the stock presently has an average rating of "Hold" and a consensus target price of $215.17.

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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