Fideuram Asset Management Ireland dac Acquires Shares of 38,375 Cintas Corporation $CTAS

Fideuram Asset Management Ireland dac acquired a new stake in shares of Cintas Corporation (NASDAQ:CTAS) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 38,375 shares of the business services provider’s stock, valued at approximately $7,938,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Cintas by 1.5% during the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after acquiring an additional 564,487 shares during the period. Geode Capital Management LLC increased its stake in shares of Cintas by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after buying an additional 97,220 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Cintas by 6.2% in the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock valued at $517,466,000 after buying an additional 158,785 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Cintas by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock valued at $524,460,000 after buying an additional 12,841 shares in the last quarter. Finally, Amundi increased its stake in shares of Cintas by 39.0% in the third quarter. Amundi now owns 2,223,411 shares of the business services provider’s stock valued at $442,548,000 after buying an additional 623,770 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Stifel Nicolaus lowered their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research note on Wednesday, March 11th. Bank of America assumed coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. Finally, Citigroup lowered their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $215.17.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.90% of the company’s stock.

Cintas Price Performance

Shares of CTAS stock opened at $173.06 on Friday. The stock has a 50-day moving average price of $173.21 and a 200 day moving average price of $184.93. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a market cap of $69.24 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 2.99 and a beta of 0.96. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $229.24.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. Research analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas’s 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.