Rathbones Group PLC Lowers Holdings in Cintas Co. (NASDAQ:CTAS)

Rathbones Group PLC decreased its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 3.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 661,464 shares of the business services provider's stock after selling 24,829 shares during the period. Rathbones Group PLC owned about 0.16% of Cintas worth $120,849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. Geode Capital Management LLC grew its stake in Cintas by 309.7% in 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 purchasing an additional 6,235,052 shares during the period. Norges Bank purchased a new position in Cintas during the 4th quarter valued at about $877,216,000. 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 acquiring an additional 2,379,932 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock valued at $224,312,000 after purchasing an additional 841,952 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS stock traded up $3.31 on Friday, reaching $206.04. The stock had a trading volume of 2,116,050 shares, compared to its average volume of 1,691,893. 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 $162.16 and a 1 year high of $228.12. The stock has a market cap of $83.20 billion, a P/E ratio of 49.68, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. The company has a 50 day simple moving average of $201.09 and a 200 day simple moving average of $204.25.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) 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 business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same period last year, the firm posted $3.84 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas's payout ratio is presently 36.11%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Bank of America began coverage on Cintas in a research report on Thursday. They issued a "buy" rating and a $250.00 price target for the company. Morgan Stanley increased their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Robert W. Baird lifted their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $213.62.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.00% of the company's stock.

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.