Sumitomo Life Insurance Co. Reduces Stake in Cintas Co. (NASDAQ:CTAS)

Sumitomo Life Insurance Co. lowered its position in Cintas Co. (NASDAQ:CTAS) by 30.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,445 shares of the business services provider’s stock after selling 1,962 shares during the period. Sumitomo Life Insurance Co.’s holdings in Cintas were worth $2,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CTAS. Raymond James Trust N.A. boosted its position in Cintas by 10.6% in the 1st quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock worth $314,000 after purchasing an additional 71 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Cintas by 16.8% during the 1st quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock worth $7,505,000 after buying an additional 2,541 shares during the period. Covestor Ltd raised its stake in shares of Cintas by 84.7% during the 1st quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock worth $139,000 after buying an additional 150 shares during the period. Mackenzie Financial Corp raised its stake in shares of Cintas by 9.3% during the 1st quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock worth $3,009,000 after buying an additional 604 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Cintas by 19.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock worth $10,410,000 after buying an additional 4,037 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Barclays increased their price objective on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Bank of America increased their price objective on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Finally, The Goldman Sachs Group increased their price objective on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Trading Down 0.4 %

Shares of NASDAQ CTAS traded down $2.72 during mid-day trading on Friday, reaching $668.41. 324,300 shares of the company’s stock were exchanged, compared to its average volume of 397,659. The firm has a market capitalization of $67.76 billion, a price-to-earnings ratio of 46.16, a PEG ratio of 3.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. Cintas Co. has a 52-week low of $438.59 and a 52-week high of $704.84. The company’s 50-day moving average is $638.38 and its 200-day moving average is $581.60.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.14 EPS. Analysts expect that Cintas Co. will post 14.96 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is 37.29%.

Cintas Company Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.