Cintas Co. (NASDAQ:CTAS) Shares Sold by Apriem Advisors

Apriem Advisors lowered its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,773 shares of the business services provider’s stock after selling 2,306 shares during the period. Cintas comprises 1.1% of Apriem Advisors’ portfolio, making the stock its 26th largest holding. Apriem Advisors’ holdings in Cintas were worth $10,007,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC lifted its holdings in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after buying an additional 1,904,926 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Robert W. Baird decreased their target price 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. Truist Financial decreased their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Citigroup started coverage on Cintas in a research note on Monday. They issued a “sell” rating and a $161.00 target price for the company. UBS Group reduced their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, The Goldman Sachs Group lowered their price target on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $199.79.

Cintas Trading Down 0.7 %

Shares of CTAS stock opened at $204.31 on Thursday. Cintas Co. has a fifty-two week low of $154.15 and a fifty-two week high of $228.12. The firm’s 50 day moving average price is $196.31 and its two-hundred day moving average price is $208.59. The stock has a market cap of $82.45 billion, a price-to-earnings ratio of 49.26, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

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

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas’s dividend payout ratio (DPR) 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.