Franklin Resources Inc. cut its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,695,613 shares of the business services provider's stock after selling 583,416 shares during the period. Franklin Resources Inc. owned about 0.67% of Cintas worth $492,488,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of CTAS. Sound Income Strategies LLC bought a new position in Cintas in the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new position in Cintas during the fourth quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new position in Cintas during the fourth quarter valued at about $31,000. IAG Wealth Partners LLC increased its holdings in Cintas by 136.8% during the fourth 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 last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Cintas in the fourth quarter worth about $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CTAS has been the subject of several research analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. The Goldman Sachs Group raised their target price on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group upped their price target on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley lifted their price objective on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. Finally, Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $210.58.
Read Our Latest Research Report on Cintas
Cintas Price Performance
Cintas stock traded down $14.52 during midday trading on Friday, reaching $190.33. 3,969,161 shares of the stock were exchanged, compared to its average volume of 1,645,641. Cintas Co. has a 52 week low of $162.16 and a 52 week 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 firm has a market cap of $76.81 billion, a PE ratio of 45.89, a PEG ratio of 3.98 and a beta of 1.41. The company's fifty day moving average is $201.48 and its 200-day moving average is $204.55.
Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data 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. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the business posted $3.84 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current year.
Cintas Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Friday, February 14th. Cintas's dividend payout ratio (DPR) is 36.11%.
About Cintas
(
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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