TD Asset Management Inc Has $71.12 Million Stock Holdings in Cintas Corporation $CTAS

TD Asset Management Inc trimmed its position in Cintas Corporation (NASDAQ:CTAS) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,129 shares of the business services provider’s stock after selling 42,851 shares during the quarter. TD Asset Management Inc’s holdings in Cintas were worth $71,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Cintas by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after buying an additional 564,487 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cintas by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after buying an additional 97,220 shares in the last quarter. Norges Bank acquired a new position in Cintas in the 4th quarter valued at $923,672,000. Nordea Investment Management AB grew its holdings in Cintas by 6.2% in the 4th quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock valued at $517,466,000 after buying an additional 158,785 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Cintas by 0.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock valued at $524,460,000 after buying an additional 12,841 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTAS. Stifel Nicolaus reduced their target price on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Bank of America began coverage on Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price on the stock. Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. UBS Group reissued a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Finally, Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $215.17.

Cintas Stock Performance

CTAS opened at $179.85 on Friday. The firm has a market cap of $71.96 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The business’s fifty day moving average is $172.59 and its 200-day moving average is $184.49.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. Sell-side analysts expect that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is 50.85%.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the sale, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 14.90% of the stock is owned by company insiders.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.