Cintas Co. (NASDAQ:CTAS) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC trimmed its position in Cintas Co. (NASDAQ:CTAS) by 20.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,545 shares of the business services provider’s stock after selling 395 shares during the quarter. Cannell & Spears LLC’s holdings in Cintas were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new position in shares of Cintas during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in Cintas during the fourth quarter worth approximately $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas during the fourth quarter worth $31,000. IAG Wealth Partners LLC grew its holdings in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after buying an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Cintas in the 4th quarter worth $34,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on CTAS shares. UBS Group lifted their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. The Goldman Sachs Group lifted their price target 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. Wells Fargo & Company increased their price objective on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Morgan Stanley increased their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $210.58.

Cintas Trading Up 1.1 %

Shares of CTAS opened at $207.87 on Wednesday. The stock has a fifty day moving average of $201.29 and a two-hundred day moving average of $204.61. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The company has a market capitalization of $83.88 billion, a PE ratio of 50.12, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. 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 (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.84 earnings per share. As a group, analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) 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.