ORG Wealth Partners LLC Decreases Stock Position in Cintas Co. (NASDAQ:CTAS)

ORG Wealth Partners LLC cut its position in shares of Cintas Co. (NASDAQ:CTAS) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,370 shares of the business services provider’s stock after selling 205 shares during the period. ORG Wealth Partners LLC’s holdings in Cintas were worth $616,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTAS. Wellington Management Group LLP raised its stake in Cintas by 211.7% during the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 acquiring an additional 1,286,668 shares in the last quarter. Atria Investments Inc raised its position in Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cintas by 83.2% in the 4th quarter. GAMMA Investing LLC now owns 11,462 shares of the business services provider’s stock worth $2,094,000 after purchasing an additional 5,206 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Down 1.3 %

Shares of CTAS traded down $2.56 during mid-day trading on Friday, hitting $190.09. 560,514 shares of the company traded hands, compared to its average volume of 2,302,784. The business has a 50 day moving average of $207.61 and a 200 day moving average of $204.21. The company has a market capitalization of $76.66 billion, a PE ratio of 48.00, a price-to-earnings-growth ratio of 4.15 and a beta of 1.37. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 1-year low of $145.91 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the company posted $3.61 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, November 15th. Cintas’s payout ratio is 37.59%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays raised their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Truist Financial dropped their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Finally, UBS Group decreased their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average target price of $198.46.

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.