Prudential Financial Inc. trimmed its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,423 shares of the business services provider's stock after selling 22,497 shares during the period. Prudential Financial Inc. owned approximately 0.06% of Cintas worth $40,819,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in Cintas during the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new stake in Cintas in the fourth quarter valued at approximately $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas in the 4th quarter worth approximately $31,000. IAG Wealth Partners LLC increased its holdings in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in Cintas during the 4th quarter worth approximately $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday. Robert W. Baird raised their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday. Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. Finally, The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $210.58.
Read Our Latest Stock Report on CTAS
Cintas Price Performance
Shares of CTAS traded down $3.03 during trading hours on Friday, hitting $203.22. 1,684,835 shares of the stock were exchanged, compared to its average volume of 1,631,493. The stock's 50-day moving average price is $201.01 and its two-hundred day moving average price is $204.62. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. 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 company has a market cap of $82.01 billion, a price-to-earnings ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.
Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.84 earnings per share. Research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.
Cintas Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas's payout ratio is 36.11%.
Cintas Company Profile
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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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