Nomura Asset Management Co. Ltd. Sells 1,789 Shares of Cintas Co. (NASDAQ:CTAS)

Nomura Asset Management Co. Ltd. reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 0.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 528,702 shares of the business services provider’s stock after selling 1,789 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cintas were worth $96,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CTAS. State Street Corp boosted its position in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after buying an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after acquiring an additional 6,235,052 shares during the period. Norges Bank bought a new position in Cintas in the fourth quarter valued at about $877,216,000. Franklin Resources Inc. increased its position in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTAS. The Goldman Sachs Group lifted their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday. Citigroup started coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Thursday. Finally, UBS Group increased their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $207.57.

Cintas Price Performance

NASDAQ CTAS opened at $206.25 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market cap of $83.23 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 3.98 and a beta of 1.41. The business has a 50 day simple moving average of $200.91 and a 200 day simple moving average of $208.87. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.84 earnings per share. Analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio is currently 36.11%.

Cintas Company 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.