Cintas Co. (NASDAQ:CTAS) Holdings Trimmed by PGGM Investments

PGGM Investments reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 140,016 shares of the business services provider’s stock after selling 1,012 shares during the quarter. PGGM Investments’ holdings in Cintas were worth $25,581,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in Cintas during the fourth quarter valued at $27,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas during the 4th quarter worth about $31,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Cintas during the 4th quarter valued at about $34,000. OFI Invest Asset Management bought a new stake in shares of Cintas in the 4th quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC acquired a new position in Cintas in the fourth quarter worth approximately $39,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup assumed coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Morgan Stanley upped their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Robert W. Baird cut their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Finally, Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Stock Performance

CTAS opened at $192.21 on Thursday. Cintas Co. has a 12-month low of $154.83 and a 12-month high of $228.12. The firm has a market capitalization of $77.57 billion, a P/E ratio of 46.34, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The stock’s 50 day moving average price is $199.71 and its two-hundred day moving average price is $209.24. 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 (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $3.61 earnings per share. On average, equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given 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 of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

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.