PGGM Investments Decreases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

PGGM Investments reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 37,715 shares of the business services provider’s stock after selling 538 shares during the period. PGGM Investments’ holdings in Cintas were worth $22,729,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Simplicity Solutions LLC lifted its stake in shares of Cintas by 117.7% during the 4th quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock worth $1,943,000 after purchasing an additional 1,743 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Cintas during the 4th quarter valued at about $8,015,000. Comerica Bank acquired a new position in Cintas during the 3rd quarter valued at about $10,866,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cintas by 91.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,642 shares of the business services provider’s stock valued at $29,315,000 after buying an additional 23,197 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock valued at $360,637,000 after buying an additional 85,662 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Truist Financial upped their target price on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Oppenheimer reaffirmed a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft upped their target price on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Finally, UBS Group increased their price objective on Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $661.21.

Cintas Stock Performance

Cintas stock traded up $0.98 during midday trading on Friday, hitting $666.23. 274,164 shares of the company were exchanged, compared to its average volume of 368,220. The firm has a market capitalization of $67.54 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 3.90 and a beta of 1.27. Cintas Co. has a fifty-two week low of $440.01 and a fifty-two week high of $704.84. The business has a fifty day simple moving average of $648.22 and a two-hundred day simple moving average of $593.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. Cintas’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $3.14 earnings per share. On average, sell-side analysts forecast that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is 37.29%.

About Cintas

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.