Cintas Co. (NASDAQ:CTAS) Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 1.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,770 shares of the business services provider’s stock after selling 118 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Cintas were worth $1,420,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Corebridge Financial Inc. grew its holdings in Cintas by 5.7% during the 4th quarter. Corebridge Financial Inc. now owns 133,265 shares of the business services provider’s stock worth $24,348,000 after acquiring an additional 7,138 shares in the last quarter. Congress Wealth Management LLC DE grew its holdings in Cintas by 1.2% during the 4th quarter. Congress Wealth Management LLC DE now owns 205,137 shares of the business services provider’s stock worth $37,479,000 after acquiring an additional 2,418 shares in the last quarter. Stevens Capital Management LP grew its holdings in Cintas by 44.4% during the 4th quarter. Stevens Capital Management LP now owns 7,201 shares of the business services provider’s stock worth $1,316,000 after acquiring an additional 2,213 shares in the last quarter. LPL Financial LLC grew its holdings in Cintas by 18.1% during the 4th quarter. LPL Financial LLC now owns 319,259 shares of the business services provider’s stock worth $58,329,000 after acquiring an additional 48,907 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Cintas during the 4th quarter worth $37,746,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CTAS. The Goldman Sachs Group reduced their price target 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 reduced their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Finally, Robert W. Baird reduced their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Two equities research 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, the stock presently has an average rating of “Hold” and an average target price of $199.79.

Cintas Stock Down 1.7 %

Cintas stock opened at $191.17 on Monday. The stock has a market cap of $77.15 billion, a price-to-earnings ratio of 46.09, a PEG ratio of 3.98 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $200.46 and its two-hundred day moving average price is $208.97. Cintas Co. has a 52 week low of $158.10 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $3.61 EPS. On average, analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid 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 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.