PGGM Investments Cuts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

PGGM Investments decreased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,715 shares of the business services provider’s stock after selling 538 shares during the quarter. PGGM Investments’ holdings in Cintas were worth $22,729,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Simplicity Solutions LLC grew its holdings in shares of Cintas by 117.7% during the fourth quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock worth $1,943,000 after purchasing an additional 1,743 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Cintas in the 4th quarter worth approximately $8,015,000. Comerica Bank bought a new stake in Cintas in the 3rd quarter worth approximately $10,866,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cintas by 91.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,642 shares of the business services provider’s stock worth $29,315,000 after buying an additional 23,197 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Cintas by 16.6% in the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after buying an additional 85,662 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CTAS shares. The Goldman Sachs Group boosted their target price on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. Royal Bank of Canada boosted their target price on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Barclays boosted their target price on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Bank of America boosted their price objective on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Trading Up 0.1 %

Shares of Cintas stock traded up $0.98 during midday trading on Friday, reaching $666.23. 274,164 shares of the company’s stock traded hands, compared to its average volume of 368,220. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. The company has a market cap of $67.54 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 3.90 and a beta of 1.27. The stock has a 50 day moving average of $648.22 and a 200-day moving average of $593.38. Cintas Co. has a 12 month low of $440.01 and a 12 month high of $704.84.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.14 earnings per share. As a group, equities analysts expect that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Announces Dividend

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

Cintas 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.