ING Groep NV Sells 13,483 Shares of Cintas Corporation $CTAS

ING Groep NV decreased its position in Cintas Corporation (NASDAQ:CTAS) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 362,913 shares of the business services provider’s stock after selling 13,483 shares during the period. ING Groep NV’s holdings in Cintas were worth $68,253,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in Cintas in the fourth quarter valued at about $25,000. 111 Capital boosted its holdings in Cintas by 120.4% in the fourth quarter. 111 Capital now owns 3,756 shares of the business services provider’s stock valued at $706,000 after acquiring an additional 2,052 shares during the last quarter. Vestcor Inc boosted its holdings in Cintas by 1.5% in the fourth quarter. Vestcor Inc now owns 31,203 shares of the business services provider’s stock valued at $5,868,000 after acquiring an additional 476 shares during the last quarter. Pinebridge Investments LLC bought a new position in Cintas in the fourth quarter valued at about $7,578,000. Finally, WINTON GROUP Ltd bought a new position in Cintas in the fourth quarter valued at about $1,072,000. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CTAS shares. Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. Bank of America started coverage on Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price on the stock. Finally, Stifel Nicolaus reduced their target price on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $215.17.

Insider Transactions at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 14.90% of the stock is owned by company insiders.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $179.85 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $229.24. The stock has a 50 day moving average of $172.59 and a 200-day moving average of $184.49. The company has a market capitalization of $71.96 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.86 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 EPS. As a group, equities research analysts predict that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s payout ratio is 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.