Intrust Bank NA Reduces Stock Position in Cintas Co. (NASDAQ:CTAS)

Intrust Bank NA lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,608 shares of the business services provider’s stock after selling 45 shares during the quarter. Intrust Bank NA’s holdings in Cintas were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its position in Cintas by 17.4% in the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after purchasing an additional 151,783 shares during the last quarter. American Century Companies Inc. grew its position in Cintas by 40.7% in the 3rd quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock valued at $235,009,000 after buying an additional 141,375 shares in the last quarter. FMR LLC raised its position in shares of Cintas by 5.5% during the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after buying an additional 123,468 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Cintas by 257.8% in the third quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock valued at $69,978,000 after acquiring an additional 104,854 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Cintas by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock valued at $360,637,000 after acquiring an additional 85,662 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. The Goldman Sachs Group lifted their price objective on shares of Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a report on Monday, April 1st. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Finally, Bank of America upped their price target on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Price Performance

CTAS stock traded up $3.65 during mid-day trading on Tuesday, hitting $669.48. The stock had a trading volume of 19,181 shares, compared to its average volume of 345,201. Cintas Co. has a 52 week low of $454.70 and a 52 week high of $704.84. The firm has a fifty day simple moving average of $649.24 and a 200 day simple moving average of $595.62. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $67.87 billion, a P/E ratio of 45.98, a P/E/G ratio of 3.90 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 15.98% and a return on equity of 37.19%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.14 earnings per share. As a group, research analysts forecast that Cintas Co. will post 14.95 EPS for the current year.

Cintas Dividend Announcement

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

Cintas Company 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.