Fifth Third Bancorp Cuts Stake in Cintas Co. (NASDAQ:CTAS)

Fifth Third Bancorp reduced its position in Cintas Co. (NASDAQ:CTAS) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 599,438 shares of the business services provider’s stock after selling 8,188 shares during the period. Fifth Third Bancorp’s holdings in Cintas were worth $109,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP increased its position in shares of Cintas by 500.0% during the second quarter. Quarry LP now owns 108 shares of the business services provider’s stock valued at $76,000 after buying an additional 90 shares during the period. Financial Management Professionals Inc. lifted its stake in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Hollencrest Capital Management boosted its holdings in Cintas by 433.3% in the 3rd 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 period. Addison Advisors LLC grew its position in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares in the last quarter. Finally, Grove Bank & Trust grew its position in shares of Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 0.2 %

Shares of CTAS stock opened at $197.39 on Friday. The business has a 50-day moving average of $203.34 and a 200 day moving average of $205.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1-year low of $148.75 and a 1-year high of $228.12. The stock has a market capitalization of $79.65 billion, a PE ratio of 47.59, a P/E/G ratio of 3.84 and a beta of 1.37.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm posted $3.61 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.79%. Cintas’s dividend payout ratio is presently 37.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CTAS shares. Barclays lifted their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. UBS Group lowered their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Robert W. Baird cut their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $198.46.

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.