KCM Investment Advisors LLC Trims Stake in Cintas Co. (NASDAQ:CTAS)

KCM Investment Advisors LLC cut its holdings in Cintas Co. (NASDAQ:CTAS) by 1.8% during the 4th quarter, Holdings Channel reports. The fund owned 34,017 shares of the business services provider’s stock after selling 615 shares during the period. KCM Investment Advisors LLC’s holdings in Cintas were worth $6,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Edgestream Partners L.P. grew its holdings in Cintas by 31.9% during the third quarter. Edgestream Partners L.P. now owns 3,248 shares of the business services provider’s stock valued at $669,000 after purchasing an additional 785 shares during the period. HighTower Advisors LLC lifted its position in shares of Cintas by 270.3% during the 3rd quarter. HighTower Advisors LLC now owns 71,265 shares of the business services provider’s stock valued at $14,662,000 after buying an additional 52,022 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Cintas by 297.6% during the 3rd quarter. Janus Henderson Group PLC now owns 70,307 shares of the business services provider’s stock valued at $14,474,000 after acquiring an additional 52,624 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Cintas by 283.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,346 shares of the business services provider’s stock worth $1,101,000 after acquiring an additional 3,952 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in Cintas by 310.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 141,032 shares of the business services provider’s stock worth $29,036,000 after acquiring an additional 106,680 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Cintas stock opened at $190.33 on Friday. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average is $201.48 and its 200 day moving average is $204.54. The company has a market cap of $76.81 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the company earned $3.84 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued 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 0.82%. Cintas’s payout ratio is presently 36.11%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. UBS Group increased their price target on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday, March 27th. Citigroup started coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Finally, Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $210.58.

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.