Alecta Tjanstepension Omsesidigt Sells 239,400 Shares of Cintas Co. (NASDAQ:CTAS)

Alecta Tjanstepension Omsesidigt lessened its stake in Cintas Co. (NASDAQ:CTAS) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,390,600 shares of the business services provider’s stock after selling 239,400 shares during the quarter. Cintas accounts for about 1.3% of Alecta Tjanstepension Omsesidigt’s investment portfolio, making the stock its 23rd biggest holding. Alecta Tjanstepension Omsesidigt’s holdings in Cintas were worth $253,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. Hollencrest Capital Management increased its holdings in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares during the last quarter. Addison Advisors LLC increased its stake in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the period. Sound Income Strategies LLC acquired a new position in Cintas in the fourth quarter valued at about $27,000. Quintet Private Bank Europe S.A. lifted its holdings in shares of Cintas by 357.1% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 160 shares of the business services provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. Finally, Endeavor Private Wealth Inc. bought a new stake in Cintas during the fourth quarter worth $31,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CTAS shares. Wells Fargo & Company decreased their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Citigroup initiated coverage on shares of Cintas in a research note on Monday. They issued a “sell” rating and a $161.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Robert W. Baird decreased their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, The Goldman Sachs Group reduced their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $199.79.

Cintas Price Performance

Shares of Cintas stock opened at $204.31 on Thursday. The business’s 50-day moving average price is $196.31 and its 200-day moving average price is $208.59. The firm has a market capitalization of $82.45 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. Cintas Co. has a 12 month low of $154.15 and a 12 month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $3.61 earnings per share. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.59%.

Cintas Profile

Cintas Corporation engages in the provision of 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.