AMI Asset Management Corp Decreases Stake in Cintas Co. (NASDAQ:CTAS)

AMI Asset Management Corp trimmed its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 41.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,539 shares of the business services provider's stock after selling 61,293 shares during the quarter. AMI Asset Management Corp's holdings in Cintas were worth $15,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CTAS. Evergreen Capital Management LLC raised its position in shares of Cintas by 4.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 827 shares of the business services provider's stock worth $579,000 after acquiring an additional 38 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Cintas by 2.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider's stock worth $512,000 after acquiring an additional 55 shares in the last quarter. KPP Advisory Services LLC grew its holdings in Cintas by 19.6% in the second quarter. KPP Advisory Services LLC now owns 434 shares of the business services provider's stock worth $304,000 after purchasing an additional 71 shares during the period. First Hawaiian Bank increased its stake in Cintas by 0.4% in the fourth quarter. First Hawaiian Bank now owns 17,105 shares of the business services provider's stock valued at $3,125,000 after purchasing an additional 73 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Cintas by 52.8% during the fourth quarter. Grove Bank & Trust now owns 220 shares of the business services provider's stock valued at $40,000 after purchasing an additional 76 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CTAS shares. Jefferies Financial Group decreased their target price on Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research report on Thursday, September 26th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a 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 report on Friday, December 20th. Morgan Stanley boosted their price target on shares of Cintas from $185.00 to $202.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Finally, UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cintas presently has an average rating of "Hold" and an average target price of $198.46.

Cintas Stock Performance

Cintas stock traded up $2.92 during mid-day trading on Tuesday, reaching $201.23. 2,083,449 shares of the company's stock were exchanged, compared to its average volume of 2,023,878. The firm has a market capitalization of $81.20 billion, a PE ratio of 48.52, a P/E/G ratio of 3.83 and a beta of 1.37. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $204.69 and its 200 day simple moving average is $205.50. Cintas Co. has a one year low of $148.75 and a one year high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $2.56 billion. During the same period in the previous year, the firm earned $3.61 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued 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 0.78%. Cintas's dividend payout ratio (DPR) is presently 37.61%.

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.