Sound Financial Strategies Group LLC Cuts Stock Position in Cintas Co. (NASDAQ:CTAS)

Sound Financial Strategies Group LLC cut its holdings in Cintas Co. (NASDAQ:CTAS) by 42.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,110 shares of the business services provider’s stock after selling 816 shares during the quarter. Cintas accounts for 0.6% of Sound Financial Strategies Group LLC’s investment portfolio, making the stock its 18th largest position. Sound Financial Strategies Group LLC’s holdings in Cintas were worth $669,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its position in shares of Cintas by 17.4% during the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after purchasing an additional 151,783 shares in the last quarter. American Century Companies Inc. increased its position in shares of Cintas by 40.7% during the third quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock worth $235,009,000 after purchasing an additional 141,375 shares in the last quarter. FMR LLC increased its position in shares of Cintas by 5.5% during the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after purchasing an additional 123,468 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Cintas by 257.8% during the third quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock worth $69,978,000 after purchasing an additional 104,854 shares in the last quarter. Finally, Nordea Investment Management AB increased 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 purchasing an additional 85,662 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Down 0.3 %

CTAS traded down $2.20 during mid-day trading on Wednesday, hitting $664.13. 751,864 shares of the stock were exchanged, compared to its average volume of 352,021. The firm’s fifty day moving average is $646.30 and its two-hundred day moving average is $591.73. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. The company has a market cap of $67.32 billion, a PE ratio of 45.87, a PEG ratio of 3.90 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the company earned $3.14 EPS. Cintas’s revenue was up 9.9% on a year-over-year basis. Equities analysts forecast that Cintas Co. will post 14.95 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

Analyst Upgrades and Downgrades

CTAS has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. The Goldman Sachs Group upped their target price on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. UBS Group upped their target price on Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Cintas has an average rating of “Moderate Buy” and an average price target of $661.21.

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.