Achmea Investment Management B.V. grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 107.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 20,615 shares of the business services provider’s stock after acquiring an additional 10,668 shares during the period. Achmea Investment Management B.V.’s holdings in Cintas were worth $4,076,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Cintas by 15.9% during the second quarter. FMR LLC now owns 2,507,776 shares of the business services provider’s stock valued at $464,114,000 after acquiring an additional 344,359 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Cintas by 10.5% during the second quarter. Brown Advisory Inc. now owns 1,599,614 shares of the business services provider’s stock valued at $296,040,000 after acquiring an additional 151,458 shares during the last quarter. Bessemer Group Inc. raised its stake in Cintas by 12.6% during the second quarter. Bessemer Group Inc. now owns 1,297,097 shares of the business services provider’s stock worth $240,054,000 after buying an additional 145,128 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Cintas by 8.7% during the third quarter. Frontier Capital Management Co. LLC now owns 919,194 shares of the business services provider’s stock worth $181,826,000 after buying an additional 73,594 shares during the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in Cintas by 18,267.8% during the second quarter. Cornerstone Wealth Management LLC now owns 766,673 shares of the business services provider’s stock worth $4,064,000 after buying an additional 762,499 shares during the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.
CTAS opened at $179.22 on Friday. Cintas Co. has a 1-year low of $144.82 and a 1-year high of $217.34. The company has a quick ratio of 2.65, a current ratio of 3.10 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.08 and a beta of 1.03.
Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Tuesday, September 25th. The business services provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.13. Cintas had a net margin of 12.72% and a return on equity of 24.13%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts predict that Cintas Co. will post 7.24 earnings per share for the current year.
The business also recently declared an annual dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be paid a $2.05 dividend. This is an increase from Cintas’s previous annual dividend of $1.62. This represents a yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 8th. Cintas’s payout ratio is 27.27%.
A number of brokerages recently weighed in on CTAS. Barclays lifted their target price on shares of Cintas from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, July 20th. Robert W. Baird set a $235.00 target price on shares of Cintas and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Stifel Nicolaus lifted their target price on shares of Cintas from $162.00 to $180.00 and gave the stock a “hold” rating in a research note on Friday, July 20th. Nomura reissued a “hold” rating and set a $188.00 target price on shares of Cintas in a research note on Sunday, July 22nd. Finally, Morgan Stanley lifted their target price on shares of Cintas from $152.00 to $158.00 and gave the stock a “$192.53” rating in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Cintas has an average rating of “Buy” and an average price target of $196.33.
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Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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