Cintas Co. (NASDAQ:CTAS) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,631 shares of the business services provider's stock after selling 2,224 shares during the quarter. Bridges Investment Management Inc. owned 0.07% of Cintas worth $49,627,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings 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 acquiring an additional 10,910,285 shares in the last quarter. FMR LLC increased its position in shares of 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 during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cintas by 308.2% during 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 worth $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS traded up $1.70 during mid-day trading on Monday, hitting $209.20. 590,543 shares of the company's stock were exchanged, compared to its average volume of 1,700,892. 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 fifty-two week low of $154.15 and a fifty-two week high of $228.12. The business's 50 day moving average is $197.13 and its two-hundred day moving average is $208.94. The firm has a market capitalization of $84.42 billion, a P/E ratio of 50.46, a P/E/G ratio of 3.98 and a beta of 1.38.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $3.61 EPS. On average, equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. Cintas's payout ratio is currently 37.59%.

Analyst Ratings Changes

A number of brokerages have issued reports on CTAS. Citigroup started coverage on Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price target for the company. The Goldman Sachs Group decreased their target price on Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Morgan Stanley upped their price target on Cintas from $185.00 to $202.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Wells Fargo & Company cut their price objective on shares of Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a report on Friday, December 20th. Finally, Truist Financial lowered their target price on shares of Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $199.79.

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.