Cintas Co. (NASDAQ:CTAS) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC lessened its position in Cintas Co. (NASDAQ:CTAS) by 20.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,740 shares of the business services provider’s stock after selling 40,262 shares during the quarter. Dearborn Partners LLC’s holdings in Cintas were worth $28,636,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in 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 buying an additional 10,910,285 shares during the last quarter. FMR LLC raised its stake in shares of Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC increased its position in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. lifted its stake 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 valued at $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 purchasing an additional 1,904,926 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTAS. The Goldman Sachs Group lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Truist Financial cut their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Robert W. Baird dropped their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Finally, Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

Shares of CTAS stock opened at $200.61 on Tuesday. The stock has a 50-day moving average price of $199.24 and a 200 day moving average price of $209.36. The firm has a market cap of $80.95 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 3.98 and a beta of 1.41. Cintas Co. has a 12 month low of $154.16 and a 12 month high of $228.12. 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, topping 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 company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the business posted $3.61 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

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.