Kingsview Wealth Management LLC Lowers Stock Position in Cintas Co. (NASDAQ:CTAS)

Kingsview Wealth Management LLC lowered its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 25.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,615 shares of the business services provider's stock after selling 1,259 shares during the quarter. Kingsview Wealth Management LLC's holdings in Cintas were worth $661,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of 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 purchasing an additional 10,910,285 shares during the period. FMR LLC boosted its stake in 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 buying an additional 6,571,128 shares during the period. Geode Capital Management LLC boosted its stake in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. boosted its stake in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 buying an additional 1,904,926 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Down 0.9 %

CTAS stock traded down $1.77 during midday trading on Friday, reaching $204.22. 1,062,557 shares of the company were exchanged, compared to its average volume of 1,480,585. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 1-year low of $152.77 and a 1-year high of $228.12. The stock's 50-day simple moving average is $197.04 and its 200 day simple moving average is $207.64. The company has a market cap of $82.41 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38.

Cintas (NASDAQ:CTAS - Get Free Report) last released 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 analysts' expectations of $2.56 billion. During the same quarter last year, the company earned $3.61 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas's dividend payout ratio (DPR) is presently 37.61%.

Analyst Ratings Changes

Several brokerages have weighed in on CTAS. The Goldman Sachs Group lowered their target price on shares of Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Robert W. Baird lowered their price objective on shares of Cintas from $209.00 to $200.00 and set a "neutral" rating for the company in a research note on Friday, December 20th. Truist Financial lowered their price objective on shares of Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Finally, UBS Group lowered their price objective on shares of Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $198.46.

Cintas Profile

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.