Penobscot Investment Management Company Inc. Sells 390 Shares of Cintas Co. (NASDAQ:CTAS)

Penobscot Investment Management Company Inc. lowered its position in shares of Cintas Co. (NASDAQ:CTAS) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,882 shares of the business services provider’s stock after selling 390 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Cintas were worth $8,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC increased its holdings in shares of Cintas by 297.3% in 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 increased its holdings in shares of 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 buying an additional 6,235,052 shares during the period. Franklin Resources Inc. lifted its stake in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cintas by 308.2% during the 3rd 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 valued at $519,419,000 after acquiring an additional 1,904,926 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 0.6 %

NASDAQ:CTAS opened at $193.46 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The firm’s 50-day moving average price is $200.57 and its 200-day moving average price is $208.92. The company has a market capitalization of $78.07 billion, a PE ratio of 46.64, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas Co. has a 1-year low of $158.10 and a 1-year high of $228.12.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio is 37.59%.

Analysts Set New Price Targets

Several brokerages have weighed in on CTAS. Citigroup started coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. UBS Group dropped their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley boosted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company reduced their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $199.79.

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.