Cintas Co. (NASDAQ:CTAS) Stock Holdings Reduced by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its position in shares of Cintas Co. (NASDAQ:CTAS) by 15.4% in the fourth quarter, Holdings Channel reports. The firm owned 883,275 shares of the business services provider’s stock after selling 161,138 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Cintas were worth $161,374,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Allianz SE acquired a new position in Cintas in the fourth quarter worth approximately $15,276,000. Allstate Corp acquired a new position in shares of Cintas during the 4th quarter worth $1,921,000. Brown Brothers Harriman & Co. raised its holdings in shares of Cintas by 6.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 9,901 shares of the business services provider’s stock valued at $1,809,000 after purchasing an additional 591 shares in the last quarter. denkapparat Operations GmbH acquired a new stake in shares of Cintas in the 4th quarter valued at $250,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in Cintas by 7.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 20,907 shares of the business services provider’s stock worth $3,820,000 after purchasing an additional 1,501 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial raised their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird boosted their target price on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group increased their price target on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $210.58.

Cintas Price Performance

Shares of Cintas stock opened at $203.22 on Monday. The firm has a fifty day moving average price of $201.01 and a two-hundred day moving average price of $204.62. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. 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 company has a market cap of $82.01 billion, a PE ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

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

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio is presently 36.11%.

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.