CIBC Asset Management Inc Acquires 38,068 Shares of Cintas Corporation $CTAS

CIBC Asset Management Inc lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 32.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 156,138 shares of the business services provider’s stock after purchasing an additional 38,068 shares during the period. CIBC Asset Management Inc’s holdings in Cintas were worth $29,365,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Cintas by 2.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,265,028 shares of the business services provider’s stock worth $425,984,000 after purchasing an additional 54,760 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Cintas by 2.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,438,568 shares of the business services provider’s stock worth $458,622,000 after purchasing an additional 50,838 shares during the last quarter. Westpac Banking Corp grew its holdings in shares of Cintas by 23.7% during the fourth quarter. Westpac Banking Corp now owns 1,425 shares of the business services provider’s stock worth $268,000 after purchasing an additional 273 shares during the last quarter. Kesler Norman & Wride LLC grew its holdings in shares of Cintas by 12.5% during the fourth quarter. Kesler Norman & Wride LLC now owns 4,997 shares of the business services provider’s stock worth $940,000 after purchasing an additional 554 shares during the last quarter. Finally, 3Chopt Investment Partners LLC boosted its holdings in Cintas by 52.1% in the fourth quarter. 3Chopt Investment Partners LLC now owns 5,451 shares of the business services provider’s stock valued at $1,025,000 after acquiring an additional 1,868 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 14.90% of the company’s stock.

Cintas Trading Up 0.8%

NASDAQ:CTAS opened at $174.76 on Thursday. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $229.24. The business’s 50-day moving average price is $172.50 and its two-hundred day moving average price is $184.57. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $69.92 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 2.75 and a beta of 0.94.

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

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio is presently 50.85%.

Analyst Ratings Changes

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

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.