Rakuten Investment Management Inc. lowered its position in Cintas Corporation (NASDAQ:CTAS – Free Report) by 57.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,477 shares of the business services provider’s stock after selling 91,036 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Cintas were worth $12,891,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. Vanguard Group Inc. lifted its position in shares of Cintas by 1.5% during the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after purchasing an additional 564,487 shares during the last quarter. State Street Corp lifted its position in shares of Cintas by 1.4% during the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after purchasing an additional 210,477 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cintas by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after purchasing an additional 97,220 shares during the last quarter. Norges Bank bought a new stake in shares of Cintas during the fourth quarter worth $923,672,000. Finally, Morgan Stanley lifted its position in shares of Cintas by 0.8% during the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.
Insider Transactions at Cintas
In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.90% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on Cintas
Cintas Price Performance
CTAS opened at $174.74 on Tuesday. The business’s 50-day moving average is $173.56 and its two-hundred day moving average is $184.24. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The firm has a market capitalization of $69.91 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 2.80 and a beta of 0.94.
Cintas (NASDAQ:CTAS – Get Free Report) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.
Cintas Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas’s payout ratio is 50.85%.
About Cintas
Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
Featured Articles
- Five stocks we like better than Cintas
- This Golden Cross Could Send Urban Outfitters to New Highs
- Insiders Sell Top Tech Plays: Should Investors Buy, Sell, or Hold?
- Can D-Wave Hold Its Own Against 2 Fast-Growing Rivals?
- 3 AI Stocks With Moats That Could Outlast Summer Volatility
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS – Free Report).
Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.
