Cintas Co. (NASDAQ:CTAS) Holdings Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 5.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,466,304 shares of the business services provider’s stock after selling 89,001 shares during the period. Wells Fargo & Company MN’s holdings in Cintas were worth $267,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC acquired a new stake in shares of Cintas during the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas during the fourth quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas during the 4th quarter valued at about $31,000. IAG Wealth Partners LLC grew its stake in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after buying an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group lifted their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Truist Financial raised their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company upped their price target on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Finally, Robert W. Baird raised their price objective on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $210.58.

Cintas Stock Down 7.1 %

CTAS opened at $190.33 on Friday. The business has a 50 day moving average of $201.48 and a 200-day moving average of $204.55. The stock has a market capitalization of $76.81 billion, a price-to-earnings ratio of 45.89, a P/E/G 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. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $3.84 EPS. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Cintas Company Profile

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.