Alta Capital Management LLC Sells 2,823 Shares of Cintas Co. (NASDAQ:CTAS)

Alta Capital Management LLC lowered its position in Cintas Co. (NASDAQ:CTAS) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,402 shares of the business services provider’s stock after selling 2,823 shares during the quarter. Alta Capital Management LLC’s holdings in Cintas were worth $13,228,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Cintas by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,942,751 shares of the business services provider’s stock worth $354,941,000 after purchasing an additional 47,829 shares during the period. Fidelis Capital Partners LLC increased its holdings in shares of Cintas by 5.5% in the fourth quarter. Fidelis Capital Partners LLC now owns 6,925 shares of the business services provider’s stock worth $1,400,000 after purchasing an additional 361 shares during the period. LGT Fund Management Co Ltd. increased its stake in Cintas by 63.9% in the fourth quarter. LGT Fund Management Co Ltd. now owns 10,260 shares of the business services provider’s stock valued at $1,875,000 after acquiring an additional 4,000 shares during the last quarter. Plato Investment Management Ltd increased its stake in Cintas by 33.2% in the fourth quarter. Plato Investment Management Ltd now owns 12,020 shares of the business services provider’s stock valued at $2,204,000 after acquiring an additional 2,996 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Cintas in the fourth quarter valued at $2,745,000. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company reduced their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Robert W. Baird reduced their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group reduced their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial reduced their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, UBS Group reduced their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus price target of $199.79.

Cintas Stock Performance

Cintas stock opened at $207.43 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $197.54 and a 200-day moving average of $209.05. The firm has a market cap of $83.71 billion, a P/E ratio of 50.01, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a 1-year low of $154.15 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last posted its earnings results 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. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.61 earnings per share. Sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

Cintas Company 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.