Vinva Investment Management Ltd Decreases Holdings in Cintas Co. (NASDAQ:CTAS)

Vinva Investment Management Ltd trimmed its position in shares of Cintas Co. (NASDAQ:CTAS) by 50.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,479 shares of the business services provider’s stock after selling 5,669 shares during the quarter. Vinva Investment Management Ltd’s holdings in Cintas were worth $1,006,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in shares of Cintas during the fourth quarter valued at approximately $27,000. Endeavor Private Wealth Inc. bought a new position in Cintas in the 4th quarter valued at $31,000. IAG Wealth Partners LLC grew its position 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 acquiring an additional 104 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Cintas in the 4th quarter valued at $34,000. Finally, OFI Invest Asset Management bought a new position in Cintas in the 4th quarter valued at $37,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Down 1.0 %

Shares of NASDAQ CTAS opened at $194.46 on Friday. 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 stock has a market capitalization of $78.47 billion, a P/E ratio of 46.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a 1-year low of $158.10 and a 1-year high of $228.12. The business has a fifty day moving average price of $200.43 and a 200 day moving average price of $208.92.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.61 EPS. Equities research analysts expect 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Wall Street Analyst Weigh In

Several brokerages have commented on CTAS. Morgan Stanley upped their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. The Goldman Sachs Group cut their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Truist Financial cut their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird cut their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $199.79.

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.