Cintas Co. (NASDAQ:CTAS) is Peninsula Asset Management Inc.’s 4th Largest Position

Peninsula Asset Management Inc. lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,774 shares of the business services provider’s stock after selling 1,427 shares during the quarter. Cintas comprises approximately 5.2% of Peninsula Asset Management Inc.’s investment portfolio, making the stock its 4th largest holding. Peninsula Asset Management Inc.’s holdings in Cintas were worth $9,825,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CTAS. Sound Income Strategies LLC acquired a new position in shares of Cintas during the fourth quarter valued at about $27,000. Endeavor Private Wealth Inc. acquired a new position in shares of Cintas during the fourth quarter valued at about $31,000. IAG Wealth Partners LLC increased its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Cintas during the fourth quarter valued at about $34,000. Finally, OFI Invest Asset Management acquired a new position in shares of Cintas during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 1.2 %

Shares of NASDAQ:CTAS opened at $192.84 on Friday. Cintas Co. has a 1 year low of $155.85 and a 1 year high of $228.12. The firm has a market capitalization of $77.82 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The business’s 50 day moving average price is $200.02 and its 200-day moving average price is $209.07.

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

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. Cintas’s payout ratio is currently 37.59%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company cut their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Finally, Truist Financial cut their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.