Tobam Reduces Stake in Cintas Co. (NASDAQ:CTAS)

Tobam lessened its stake in shares of Cintas Co. (NASDAQ:CTAS) by 15.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 954 shares of the business services provider’s stock after selling 178 shares during the period. Tobam’s holdings in Cintas were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Advisor Solutions LLC increased its stake in Cintas by 262.8% during the third quarter. Dynamic Advisor Solutions LLC now owns 1,299 shares of the business services provider’s stock worth $267,000 after acquiring an additional 941 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Cintas by 209.7% during the 3rd quarter. Brookstone Capital Management now owns 1,081 shares of the business services provider’s stock worth $223,000 after purchasing an additional 732 shares during the period. Strategic Wealth Partners Ltd. increased its position in shares of Cintas by 300.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,400 shares of the business services provider’s stock worth $288,000 after purchasing an additional 1,050 shares during the last quarter. CWM LLC raised its holdings in Cintas by 422.3% in the 3rd quarter. CWM LLC now owns 28,571 shares of the business services provider’s stock valued at $5,882,000 after buying an additional 23,101 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in Cintas by 272.8% in the third quarter. Hexagon Capital Partners LLC now owns 589 shares of the business services provider’s stock valued at $121,000 after buying an additional 431 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTAS. Robert W. Baird dropped their price target 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. UBS Group dropped their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley upped their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Finally, Truist Financial cut their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two 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 company presently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Down 1.1 %

CTAS stock opened at $202.06 on Friday. Cintas Co. has a fifty-two week low of $150.70 and a fifty-two week high of $228.12. The company’s 50 day moving average price is $199.35 and its 200 day moving average price is $206.94. 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 firm has a market capitalization of $81.54 billion, a price-to-earnings ratio of 48.72, a PEG ratio of 3.87 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.61 EPS. On average, equities research analysts anticipate 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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.61%.

About Cintas

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.