CIBC Bancorp USA Inc. Acquires Shares of 62,759 Cintas Corporation $CTAS

CIBC Bancorp USA Inc. bought a new position in Cintas Corporation (NASDAQ:CTAS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 62,759 shares of the business services provider’s stock, valued at approximately $12,882,000.

Several other institutional investors also recently bought and sold shares of the stock. Achmea Investment Management B.V. grew its stake in shares of Cintas by 2.4% during the 3rd quarter. Achmea Investment Management B.V. now owns 162,334 shares of the business services provider’s stock worth $33,321,000 after purchasing an additional 3,864 shares during the period. Oarsman Capital Inc. boosted its holdings in Cintas by 11.5% during the third quarter. Oarsman Capital Inc. now owns 1,608 shares of the business services provider’s stock worth $330,000 after buying an additional 166 shares in the last quarter. First Commonwealth Financial Corp PA grew its position in Cintas by 46.5% during the third quarter. First Commonwealth Financial Corp PA now owns 1,716 shares of the business services provider’s stock valued at $352,000 after buying an additional 545 shares during the period. Sunbelt Securities Inc. grew its position in Cintas by 186.1% during the third quarter. Sunbelt Securities Inc. now owns 309 shares of the business services provider’s stock valued at $63,000 after buying an additional 201 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in Cintas by 33.7% in the third quarter. Coldstream Capital Management Inc. now owns 7,978 shares of the business services provider’s stock valued at $1,638,000 after buying an additional 2,013 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 1.9%

CTAS stock opened at $181.83 on Friday. Cintas Corporation has a 52 week low of $178.64 and a 52 week high of $229.24. The company has a quick ratio of 1.49, a current ratio of 1.71 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $195.23 and a 200-day simple moving average of $192.84. The stock has a market capitalization of $72.71 billion, a P/E ratio of 53.01, a P/E/G ratio of 3.34 and a beta of 0.95.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 18th. The business services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Cintas had a net margin of 17.58% and a return on equity of 41.07%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company posted $1.09 EPS. Cintas’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 52.48%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CTAS shares. Weiss Ratings raised shares of Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Citigroup restated a “sell” rating and issued a $181.00 price target (up from $176.00) on shares of Cintas in a research note on Monday, December 22nd. UBS Group reaffirmed a “buy” rating on shares of Cintas in a report on Thursday, March 12th. 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 research report on Wednesday, March 11th. Finally, Bank of America started coverage on Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.25.

Cintas Company Profile

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.