Handelsbanken Fonder AB Sells 2,504 Shares of Cintas Co. (NASDAQ:CTAS)

Handelsbanken Fonder AB reduced its position in shares of Cintas Co. (NASDAQ:CTAS) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,371 shares of the business services provider’s stock after selling 2,504 shares during the period. Handelsbanken Fonder AB’s holdings in Cintas were worth $14,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janiczek Wealth Management LLC lifted its stake in shares of Cintas by 113.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after acquiring an additional 26 shares during the period. Catalyst Capital Advisors LLC lifted its stake in shares of Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after acquiring an additional 19 shares during the period. Impact Partnership Wealth LLC lifted its stake in shares of Cintas by 2,050.0% in the third quarter. Impact Partnership Wealth LLC now owns 86 shares of the business services provider’s stock worth $41,000 after acquiring an additional 82 shares during the period. Raleigh Capital Management Inc. lifted its stake in shares of Cintas by 66.7% in the third quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock worth $41,000 after acquiring an additional 34 shares during the period. Finally, Ancora Advisors LLC lifted its stake in shares of Cintas by 2,833.3% in the third quarter. Ancora Advisors LLC now owns 88 shares of the business services provider’s stock worth $43,000 after acquiring an additional 85 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Barclays boosted their price target on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Bank of America boosted their price target on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. The Goldman Sachs Group boosted their price target on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Oppenheimer reissued a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $661.21.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $666.33 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. Cintas Co. has a twelve month low of $438.59 and a twelve month high of $704.84. The stock’s 50 day moving average is $645.27 and its 200-day moving average is $591.22. The firm has a market capitalization of $67.55 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 3.87 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the company posted $3.14 earnings per share. Cintas’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 annualized dividend and a yield of 0.81%. Cintas’s dividend payout ratio (DPR) is currently 37.29%.

Cintas Profile

Cintas Corporation provides 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.