Rhumbline Advisers Sells 33,670 Shares of Cintas Co. (NASDAQ:CTAS)

Rhumbline Advisers decreased its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 731,342 shares of the business services provider's stock after selling 33,670 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Cintas worth $133,616,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC grew its position in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC raised its stake in Cintas by 309.7% during 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 during the period. Franklin Resources Inc. lifted its holdings in Cintas by 264.7% in 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cintas by 308.2% in the 3rd 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 during the period. Institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research analyst reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. UBS Group decreased their price target 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. The Goldman Sachs Group cut their price objective on 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 decreased their target price on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Finally, Morgan Stanley raised 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Cintas presently has an average rating of "Hold" and an average price target of $198.46.

Cintas Trading Up 2.2 %

Shares of CTAS traded up $4.40 during midday trading on Wednesday, hitting $208.14. The stock had a trading volume of 2,043,046 shares, compared to its average volume of 1,709,011. Cintas Co. has a 1 year low of $152.77 and a 1 year high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock's 50 day moving average is $196.84 and its 200 day moving average is $207.96. The firm has a market cap of $83.99 billion, a PE ratio of 50.18, a price-to-earnings-growth ratio of 3.94 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. 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 in the prior year, the company posted $3.61 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Cintas's dividend payout ratio (DPR) is presently 37.61%.

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.