Forsta AP Fonden Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Forsta AP Fonden grew its holdings in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) by 31.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,600 shares of the business services provider’s stock after purchasing an additional 7,000 shares during the period. Forsta AP Fonden’s holdings in Cintas were worth $12,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CTAS. Asset Dedication LLC purchased a new stake in Cintas during the first quarter worth about $32,000. HWG Holdings LP purchased a new stake in Cintas during the fourth quarter worth about $35,000. Riverview Trust Co purchased a new stake in shares of Cintas during the first quarter worth approximately $35,000. MCF Advisors LLC purchased a new stake in shares of Cintas during the first quarter worth approximately $39,000. Finally, O Dell Group LLC increased its stake in shares of Cintas by 466.7% during the fourth quarter. O Dell Group LLC now owns 102 shares of the business services provider’s stock worth $45,000 after buying an additional 84 shares during the period. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Down 0.8 %

Shares of CTAS stock opened at $423.61 on Friday. Cintas Co. has a fifty-two week low of $343.86 and a fifty-two week high of $461.44. The stock has a market cap of $42.87 billion, a P/E ratio of 36.36, a P/E/G ratio of 3.25 and a beta of 1.45. The business has a fifty day simple moving average of $386.50 and a 200-day simple moving average of $389.37. The company has a quick ratio of 1.51, a current ratio of 1.84 and a debt-to-equity ratio of 0.75.

Cintas (NASDAQ:CTAS – Get Rating) last announced its quarterly earnings results on Thursday, July 14th. The business services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. Cintas had a return on equity of 35.81% and a net margin of 15.73%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the business posted $2.47 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast that Cintas Co. will post 12.23 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from Cintas’s previous quarterly dividend of $0.95. Cintas’s dividend payout ratio (DPR) is presently 32.62%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CTAS shares. Wells Fargo & Company started coverage on shares of Cintas in a research note on Tuesday, July 12th. They set an “equal weight” rating and a $393.00 target price on the stock. Robert W. Baird lowered their price target on Cintas from $458.00 to $440.00 in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft lowered their price target on Cintas from $517.00 to $465.00 and set a “buy” rating for the company in a report on Tuesday, July 5th. Barclays lowered their price target on Cintas from $500.00 to $435.00 in a report on Friday, July 15th. Finally, Morgan Stanley increased their price objective on Cintas from $357.00 to $362.00 and gave the company an “equal weight” rating in a report on Friday, July 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Cintas has an average rating of “Moderate Buy” and an average price target of $432.00.

Cintas Company Profile

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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.