Paragon Advisors LLC Decreases Stake in Cintas Co. (NASDAQ:CTAS)

Paragon Advisors LLC lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 13.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,842 shares of the business services provider’s stock after selling 1,667 shares during the quarter. Paragon Advisors LLC’s holdings in Cintas were worth $1,981,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares during the period. JPMorgan Chase & Co. increased its holdings in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. LVM Capital Management Ltd. MI raised its position in Cintas by 292.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock valued at $1,002,000 after purchasing an additional 4,086 shares during the period. Atria Investments Inc lifted its stake in shares of Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after purchasing an additional 16,623 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after buying an additional 86,460 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTAS. Morgan Stanley raised their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. The Goldman Sachs Group reduced their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Truist Financial lowered their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group cut their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus price target of $198.46.

Cintas Stock Down 1.7 %

Shares of Cintas stock opened at $189.30 on Monday. The business has a 50-day moving average price of $207.28 and a 200 day moving average price of $204.66. Cintas Co. has a fifty-two week low of $145.91 and a fifty-two week high of $228.12. The firm has a market cap of $76.39 billion, a P/E ratio of 47.80, a P/E/G ratio of 4.15 and a beta of 1.37. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $3.61 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were given a $0.39 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.82%. Cintas’s payout ratio is currently 37.59%.

About Cintas

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.