Daiwa Securities Group Inc. Trims Stake in Cintas Co. (NASDAQ:CTAS)

Daiwa Securities Group Inc. decreased its position in shares of Cintas Co. (NASDAQ:CTAS) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,558 shares of the business services provider’s stock after selling 1,553 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cintas were worth $13,622,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CTAS. Addison Advisors LLC raised its position in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the period. Sound Income Strategies LLC acquired a new position in Cintas in the 4th quarter worth about $27,000. Endeavor Private Wealth Inc. purchased a new position in Cintas during the fourth quarter worth approximately $31,000. Newbridge Financial Services Group Inc. acquired a new stake in Cintas in the fourth quarter valued at approximately $34,000. Finally, OFI Invest Asset Management acquired a new position in shares of Cintas during the 4th quarter worth approximately $37,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 1.2 %

Shares of NASDAQ:CTAS opened at $200.61 on Tuesday. Cintas Co. has a 52-week low of $154.16 and a 52-week high of $228.12. The business has a fifty day moving average of $199.24 and a two-hundred day moving average of $209.36. The stock has a market cap of $80.95 billion, a P/E ratio of 48.37, a PEG ratio of 3.98 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last announced its quarterly 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. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company posted $3.61 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CTAS. The Goldman Sachs Group reduced their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Truist Financial reduced their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Robert W. Baird dropped their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, Citigroup began coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $199.79.

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.