Private Advisor Group LLC Cuts Stake in Cintas Co. (NASDAQ:CTAS)

Private Advisor Group LLC reduced its position in Cintas Co. (NASDAQ:CTAS) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,801 shares of the business services provider’s stock after selling 560 shares during the quarter. Private Advisor Group LLC’s holdings in Cintas were worth $5,445,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Financial Perspectives Inc purchased a new stake in shares of Cintas in the 4th quarter worth approximately $62,000. Atlas Legacy Advisors LLC bought a new position in Cintas in the fourth quarter worth approximately $275,000. Bank of Jackson Hole Trust purchased a new stake in Cintas during the fourth quarter worth $43,000. Prossimo Advisors LLC boosted its position in Cintas by 9.3% during the 4th quarter. Prossimo Advisors LLC now owns 14,887 shares of the business services provider’s stock valued at $2,720,000 after acquiring an additional 1,271 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Cintas in the 4th quarter valued at $879,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTAS. Wells Fargo & Company decreased their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Truist Financial decreased their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. UBS Group lowered their price target 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Performance

Shares of CTAS opened at $204.43 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a 50-day moving average of $196.53 and a two-hundred day moving average of $208.23. The stock has a market cap of $82.50 billion, a P/E ratio of 49.29, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a one year low of $154.15 and a one year 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, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company posted $3.61 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently disclosed 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 is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. 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.