Danske Bank A S Takes $40.68 Million Position in Cintas Corporation $CTAS

Danske Bank A S bought a new stake in Cintas Corporation (NASDAQ:CTAS) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 198,164 shares of the business services provider’s stock, valued at approximately $40,675,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in Cintas in the third quarter valued at $29,000. Alpine Bank Wealth Management boosted its stake in shares of Cintas by 1,092.9% during the 3rd quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock worth $34,000 after acquiring an additional 153 shares in the last quarter. WPG Advisers LLC grew its position in shares of Cintas by 90.0% during the 3rd quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 81 shares during the period. Salomon & Ludwin LLC grew its position in shares of Cintas by 84.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 184 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 84 shares during the period. Finally, Evolution Wealth Management Inc. purchased a new position in shares of Cintas in the 2nd quarter valued at about $45,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $185.44 on Thursday. Cintas Corporation has a one year low of $180.39 and a one year high of $229.24. The stock has a market cap of $74.16 billion, a PE ratio of 54.06, a P/E/G ratio of 3.48 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.49 and a current ratio of 1.71. The stock has a 50 day moving average price of $195.39 and a 200 day moving average price of $192.92.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, February 13th. Cintas’s payout ratio is currently 52.48%.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Citigroup reissued a “sell” rating and issued a $181.00 price objective (up from $176.00) on shares of Cintas in a report on Monday, December 22nd. Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and boosted their price objective for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Argus upgraded Cintas to a “strong-buy” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cintas has a consensus rating of “Moderate Buy” and an average price target of $220.25.

Cintas 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.