Swiss Life Asset Management Ltd Has $20.71 Million Stake in Cintas Corporation $CTAS

Swiss Life Asset Management Ltd cut its holdings in Cintas Corporation (NASDAQ:CTAS) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,916 shares of the business services provider’s stock after selling 18,477 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Cintas were worth $20,714,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Prana Capital Management LP acquired a new position in shares of Cintas in the 3rd quarter valued at $14,312,000. CIBC Bancorp USA Inc. bought a new stake in Cintas in the third quarter valued at about $12,882,000. Achmea Investment Management B.V. lifted its stake in Cintas by 2.4% in the third quarter. Achmea Investment Management B.V. now owns 162,334 shares of the business services provider’s stock valued at $33,321,000 after buying an additional 3,864 shares during the period. Oarsman Capital Inc. boosted its holdings in Cintas by 11.5% during the third quarter. Oarsman Capital Inc. now owns 1,608 shares of the business services provider’s stock worth $330,000 after buying an additional 166 shares during the last quarter. Finally, First Commonwealth Financial Corp PA grew its position in shares of Cintas by 46.5% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 1,716 shares of the business services provider’s stock worth $352,000 after buying an additional 545 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup reissued a “sell” rating and issued a $181.00 target price (up from $176.00) on shares of Cintas in a research note on Monday, December 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a report on Friday, December 19th. Wells Fargo & Company raised shares of Cintas from a “cautious” rating to an “overweight” rating and upped their price target for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. Weiss Ratings raised Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cintas has a consensus rating of “Moderate Buy” and a consensus price target of $220.25.

Cintas Price Performance

Cintas stock opened at $181.83 on Friday. Cintas Corporation has a 52 week low of $178.64 and a 52 week high of $229.24. The company has a quick ratio of 1.49, a current ratio of 1.71 and a debt-to-equity ratio of 0.54. The stock has a market cap of $72.71 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 3.34 and a beta of 0.95. The business has a 50-day simple moving average of $195.23 and a 200 day simple moving average of $192.84.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 18th. The business services provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.77 billion. Cintas had a return on equity of 41.07% and a net margin of 17.58%.Cintas’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. On average, research analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were 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 was Friday, February 13th. Cintas’s payout ratio is presently 52.48%.

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.