Cintas Co. (NASDAQ:CTAS) Holdings Cut by TAP Consulting LLC

TAP Consulting LLC reduced its stake in Cintas Co. (NASDAQ:CTAS) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,785 shares of the business services provider’s stock after selling 1,097 shares during the period. TAP Consulting LLC’s holdings in Cintas were worth $3,067,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its position in Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after purchasing an additional 1,450 shares during the period. KMG Fiduciary Partners LLC boosted its holdings in shares of Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares during the period. Wellington Management Group LLP grew its position in shares of Cintas by 211.7% during the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after acquiring an additional 529,005 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after acquiring an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC boosted its stake in Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after purchasing an additional 1,988 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 1.5 %

Shares of NASDAQ:CTAS opened at $196.37 on Thursday. The firm has a 50 day simple moving average of $200.39 and a 200 day simple moving average of $209.02. Cintas Co. has a 52 week low of $156.83 and a 52 week high of $228.12. 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 company has a market cap of $79.24 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate 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 previous year, the company posted $3.61 earnings per share. As a group, research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.79%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTAS. UBS Group dropped their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Citigroup started 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. The Goldman Sachs Group cut their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $199.79.

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.