Cintas Co. (NASDAQ:CTAS) Stock Holdings Trimmed by Western Wealth Management LLC

Western Wealth Management LLC reduced its position in Cintas Co. (NASDAQ:CTAS) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,020 shares of the business services provider’s stock after selling 80 shares during the quarter. Western Wealth Management LLC’s holdings in Cintas were worth $4,833,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Simplicity Solutions LLC boosted its stake in Cintas by 117.7% in the fourth quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock valued at $1,943,000 after acquiring an additional 1,743 shares during the period. Louisiana State Employees Retirement System acquired a new position in Cintas in the fourth quarter valued at approximately $8,015,000. Comerica Bank acquired a new position in Cintas in the third quarter valued at approximately $10,866,000. Nordea Investment Management AB boosted its position in shares of Cintas by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after buying an additional 85,662 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cintas by 91.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,642 shares of the business services provider’s stock worth $29,315,000 after buying an additional 23,197 shares during the period. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Bank of America boosted their price objective on Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Royal Bank of Canada boosted their price objective on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Truist Financial boosted their price objective on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Barclays boosted their target price on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group boosted their target price on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $661.21.

Cintas Price Performance

Shares of NASDAQ CTAS traded down $6.07 during trading on Thursday, hitting $662.44. The company had a trading volume of 212,161 shares, compared to its average volume of 342,981. The company has a market cap of $67.15 billion, a P/E ratio of 45.94, a PEG ratio of 3.90 and a beta of 1.27. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84. The business’s 50-day moving average is $641.27 and its 200 day moving average is $585.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.14 earnings per share. Equities research analysts predict that Cintas Co. will post 14.96 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.82%. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Cintas Profile

Cintas Corporation provides 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.