Commonwealth Bank of Australia Sells 1,300 Shares of Cintas Co. (CTAS)

Commonwealth Bank of Australia trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 15.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,389 shares of the business services provider’s stock after selling 1,300 shares during the quarter. Commonwealth Bank of Australia’s holdings in Cintas were worth $1,457,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fort L.P. bought a new stake in Cintas in the second quarter worth approximately $118,000. Polaris Greystone Financial Group LLC bought a new stake in Cintas in the third quarter worth approximately $154,000. Harvest Fund Management Co. Ltd bought a new stake in Cintas in the third quarter worth approximately $184,000. Piedmont Investment Advisors LLC bought a new stake in Cintas in the second quarter worth approximately $181,000. Finally, Ropes Wealth Advisors LLC bought a new stake in Cintas in the second quarter worth approximately $185,000. 65.94% of the stock is owned by institutional investors.

NASDAQ CTAS opened at $180.69 on Friday. The company has a quick ratio of 2.65, a current ratio of 3.10 and a debt-to-equity ratio of 0.76. The firm has a market cap of $19.31 billion, a P/E ratio of 28.32, a PEG ratio of 2.08 and a beta of 1.03. Cintas Co. has a 1 year low of $146.56 and a 1 year high of $217.34.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Tuesday, September 25th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.13. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.68 billion. Cintas had a net margin of 12.72% and a return on equity of 24.13%. Cintas’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 EPS. On average, equities research analysts expect that Cintas Co. will post 7.24 earnings per share for the current year.

The company also recently disclosed an annual dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be issued a dividend of $2.05 per share. This is an increase from Cintas’s previous annual dividend of $1.62. This represents a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 8th. Cintas’s dividend payout ratio is currently 34.51%.

Several analysts have commented on CTAS shares. Robert W. Baird set a $235.00 target price on shares of Cintas and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $221.00 target price for the company in a research report on Friday, September 28th. BidaskClub downgraded shares of Cintas from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 19th. Credit Suisse Group began coverage on shares of Cintas in a research report on Friday, August 10th. They issued a “neutral” rating and a $205.00 target price for the company. Finally, Bank of America began coverage on shares of Cintas in a report on Tuesday, October 23rd. They set a “neutral” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Cintas currently has a consensus rating of “Buy” and an average price target of $202.17.

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Cintas Profile

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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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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