Cintas Co. (CTAS) Shares Bought by Bessemer Group Inc.
Bessemer Group Inc. boosted its stake in Cintas Co. (NASDAQ:CTAS) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,308,293 shares of the business services provider’s stock after buying an additional 11,196 shares during the period. Bessemer Group Inc.’s holdings in Cintas were worth $258,793,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allianz Asset Management GmbH raised its position in shares of Cintas by 6.6% in the first quarter. Allianz Asset Management GmbH now owns 95,649 shares of the business services provider’s stock valued at $16,316,000 after buying an additional 5,899 shares in the last quarter. IFM Investors Pty Ltd raised its position in shares of Cintas by 50.8% in the second quarter. IFM Investors Pty Ltd now owns 3,909 shares of the business services provider’s stock valued at $723,000 after buying an additional 1,316 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Cintas by 22.3% in the second quarter. State of Alaska Department of Revenue now owns 20,096 shares of the business services provider’s stock valued at $3,718,000 after buying an additional 3,658 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new stake in shares of Cintas in the second quarter valued at approximately $143,000. Finally, Atria Investments LLC raised its position in shares of Cintas by 22.9% in the second quarter. Atria Investments LLC now owns 4,644 shares of the business services provider’s stock valued at $859,000 after buying an additional 865 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.
A number of equities research analysts have recently weighed in on CTAS shares. Zacks Investment Research downgraded shares of Cintas from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Morgan Stanley reiterated a “sell” rating and issued a $178.00 price target (up from $164.00) on shares of Cintas in a research report on Thursday, September 13th. Credit Suisse Group started coverage on shares of Cintas in a research report on Friday, August 10th. They issued a “neutral” rating and a $205.00 price target for the company. Bank of America started coverage on shares of Cintas in a research report on Tuesday, October 23rd. They issued a “neutral” rating and a $200.00 price target for the company. Finally, Robert W. Baird reiterated a “buy” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $196.33.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Tuesday, September 25th. The business services provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.80 by $0.13. Cintas had a net margin of 12.72% and a return on equity of 24.13%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $1.45 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas Co. will post 7.24 earnings per share for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be given a dividend of $2.05 per share. This is an increase from Cintas’s previous annual dividend of $1.62. This represents a yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 8th. Cintas’s payout ratio is currently 27.27%.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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