Fmr LLC Decreases Stock Position in Cintas Co. (NASDAQ:CTAS)

Fmr LLC lessened its position in shares of Cintas Co. (NASDAQ:CTAS) by 4.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,417,950 shares of the business services provider’s stock after selling 363,182 shares during the quarter. Fmr LLC’s holdings in Cintas were worth $1,537,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CTAS. Geode Capital Management LLC lifted its holdings in Cintas by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after purchasing an additional 219,809 shares during the last quarter. Norges Bank bought a new stake in shares of Cintas in the fourth quarter valued at approximately $877,216,000. Franklin Resources Inc. lifted its stake in shares of Cintas by 264.7% during 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 buying an additional 2,379,932 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Cintas by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,942,751 shares of the business services provider’s stock valued at $354,941,000 after buying an additional 47,829 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $190.33 on Monday. The company has a market capitalization of $76.81 billion, a P/E ratio of 45.89, a P/E/G ratio of 3.98 and a beta of 1.20. 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 52-week low of $162.16 and a 52-week high of $228.12. The company has a fifty day moving average of $201.48 and a 200-day moving average of $204.57.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.84 EPS. As a group, equities research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Truist Financial raised their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday, March 27th. The Goldman Sachs Group raised their price objective on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Citigroup started coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $210.58.

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.