Bank of America Corp DE Sells 30,175 Shares of Cintas Co. (NASDAQ:CTAS)

Bank of America Corp DE lessened its stake in shares of Cintas Co. (NASDAQ:CTASGet Rating) by 7.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 389,026 shares of the business services provider’s stock after selling 30,175 shares during the period. Bank of America Corp DE’s holdings in Cintas were worth $165,487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. BlackRock Inc. raised its holdings in Cintas by 14.5% during the first quarter. BlackRock Inc. now owns 7,057,910 shares of the business services provider’s stock worth $3,002,364,000 after acquiring an additional 893,231 shares in the last quarter. Norges Bank bought a new stake in Cintas during the fourth quarter worth about $323,382,000. Impax Asset Management Group plc raised its stake in Cintas by 259.8% in the fourth quarter. Impax Asset Management Group plc now owns 836,398 shares of the business services provider’s stock valued at $370,667,000 after buying an additional 603,924 shares during the period. Castleview Partners LLC bought a new stake in Cintas in the fourth quarter valued at approximately $1,242,000. Finally, Marshall Wace LLP raised its stake in Cintas by 20,037.6% in the fourth quarter. Marshall Wace LLP now owns 297,633 shares of the business services provider’s stock valued at $131,903,000 after buying an additional 296,155 shares during the period. Institutional investors own 76.66% of the company’s stock.

Cintas Trading Down 1.5 %

Shares of NASDAQ:CTAS opened at $399.84 on Thursday. The company has a market capitalization of $40.80 billion, a P/E ratio of 34.32, a P/E/G ratio of 3.53 and a beta of 1.44. Cintas Co. has a 1 year low of $343.86 and a 1 year high of $461.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.84 and a quick ratio of 1.51. The business’s 50 day simple moving average is $415.87 and its 200 day simple moving average is $398.88.

Cintas (NASDAQ:CTASGet Rating) last issued its quarterly earnings results on Thursday, July 14th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2 billion. Cintas had a return on equity of 35.81% and a net margin of 15.73%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, research analysts anticipate that Cintas Co. will post 12.14 EPS for the current fiscal year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were given a dividend of $1.15 per share. The ex-dividend date was Friday, August 12th. This represents a $4.60 dividend on an annualized basis and a yield of 1.15%. This is an increase from Cintas’s previous quarterly dividend of $0.95. Cintas’s dividend payout ratio is currently 39.49%.

Analyst Upgrades and Downgrades

CTAS has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on Cintas in a research note on Tuesday, July 12th. They issued an “equal weight” rating and a $393.00 price objective on the stock. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research note on Saturday, July 23rd. Morgan Stanley upped their price objective on Cintas from $357.00 to $362.00 and gave the company an “equal weight” rating in a research note on Friday, July 15th. Robert W. Baird upped their price objective on Cintas from $440.00 to $475.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Finally, Royal Bank of Canada lowered their target price on Cintas from $475.00 to $450.00 in a research note on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas has a consensus rating of “Moderate Buy” and a consensus target price of $435.89.

Cintas Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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