Cypress Capital Group Reduces Stock Position in Cintas Co. (NASDAQ:CTAS)

Cypress Capital Group cut its stake in Cintas Co. (NASDAQ:CTAS) by 8.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,561 shares of the business services provider’s stock after selling 339 shares during the quarter. Cypress Capital Group’s holdings in Cintas were worth $651,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Crew Capital Management Ltd. lifted its holdings in Cintas by 1.7% in the fourth quarter. Crew Capital Management Ltd. now owns 5,501 shares of the business services provider’s stock valued at $1,005,000 after acquiring an additional 92 shares during the last quarter. Keybank National Association OH lifted its holdings in Cintas by 0.8% in the fourth quarter. Keybank National Association OH now owns 29,904 shares of the business services provider’s stock valued at $5,463,000 after acquiring an additional 243 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in Cintas by 49.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,955 shares of the business services provider’s stock valued at $360,000 after acquiring an additional 643 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in Cintas by 0.8% in the fourth quarter. Bahl & Gaynor Inc. now owns 845,804 shares of the business services provider’s stock valued at $154,528,000 after acquiring an additional 6,784 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cintas by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,942,751 shares of the business services provider’s stock valued at $354,941,000 after acquiring an additional 47,829 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group decreased their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note 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. Finally, Robert W. Baird decreased their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $199.79.

Cintas Stock Performance

NASDAQ:CTAS opened at $205.29 on Thursday. The firm has a market capitalization of $82.84 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. The business’s fifty day moving average price is $198.20 and its 200 day moving average price is $209.12. 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 12 month low of $154.15 and a 12 month high of $228.12.

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

Cintas Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is 37.59%.

Cintas 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.