Clearbridge Investments LLC trimmed its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,059,592 shares of the business services provider's stock after selling 35,042 shares during the quarter. Clearbridge Investments LLC owned approximately 0.26% of Cintas worth $193,587,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Physician Wealth Advisors Inc. bought a new position in shares of Cintas in the 4th quarter worth $59,000. California Public Employees Retirement System raised its holdings in Cintas by 8.8% during the 4th quarter. California Public Employees Retirement System now owns 967,917 shares of the business services provider's stock valued at $176,838,000 after buying an additional 78,383 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Cintas by 38.2% in the 4th quarter. Schroder Investment Management Group now owns 1,008,418 shares of the business services provider's stock worth $184,238,000 after buying an additional 278,915 shares during the period. Allianz SE bought a new stake in shares of Cintas in the 4th quarter worth approximately $15,276,000. Finally, Allstate Corp purchased a new position in shares of Cintas during the fourth quarter valued at approximately $1,921,000. 63.46% of the stock is currently owned by institutional investors.
Cintas Stock Down 1.7 %
NASDAQ CTAS traded down $3.62 during mid-day trading on Thursday, reaching $205.05. The stock had a trading volume of 1,281,955 shares, compared to its average volume of 1,631,582. The company has a fifty day moving average price of $201.48 and a 200 day moving average price of $204.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The stock has a market cap of $82.75 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.
Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the previous year, the business earned $3.84 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.
Cintas Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas's payout ratio is 36.11%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Robert W. Baird increased their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Citigroup assumed coverage on Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 price objective for the company. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Finally, Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $210.58.
Check Out Our Latest Stock Analysis on Cintas
Cintas Profile
(
Free Report)
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.
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