Legacy Financial Advisors Inc. Sells 811 Shares of Cintas Co. (NASDAQ:CTAS)

Legacy Financial Advisors Inc. lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 10.0% in the fourth quarter, Holdings Channel reports. The firm owned 7,336 shares of the business services provider’s stock after selling 811 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Cintas were worth $1,340,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after purchasing an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC lifted its stake in Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 valued at $457,574,000 after acquiring an additional 1,286,668 shares during the last quarter. Annex Advisory Services LLC lifted its stake in Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after acquiring an additional 1,988 shares during the last quarter. Finally, LVM Capital Management Ltd. MI lifted its stake in Cintas by 292.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock valued at $1,002,000 after acquiring an additional 4,086 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $203.99 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12. The firm has a market cap of $82.32 billion, a P/E ratio of 49.18, a P/E/G ratio of 3.98 and a beta of 1.20. The company’s 50-day moving average price is $200.97 and its two-hundred day moving average price is $204.27.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.84 EPS. On average, analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CTAS. Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. The Goldman Sachs Group increased their price target on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Truist Financial raised their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Morgan Stanley raised their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $210.58.

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.