Russell Investments Group Ltd. Reduces Stock Position in Cintas Co. (NASDAQ:CTAS)

Russell Investments Group Ltd. cut its holdings in Cintas Co. (NASDAQ:CTAS) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,886 shares of the business services provider’s stock after selling 3,228 shares during the period. Russell Investments Group Ltd.’s holdings in Cintas were worth $25,830,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Janiczek Wealth Management LLC raised its position in Cintas by 113.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 26 shares during the period. Catalyst Capital Advisors LLC lifted its position in 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 buying an additional 19 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in Cintas by 66.7% during the third quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock worth $41,000 after buying an additional 34 shares during the period. Ancora Advisors LLC increased its position in Cintas by 2,833.3% during the third quarter. Ancora Advisors LLC now owns 88 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 85 shares during the last quarter. Finally, Operose Advisors LLC lifted its stake in Cintas by 944.4% in the third quarter. Operose Advisors LLC now owns 94 shares of the business services provider’s stock worth $45,000 after purchasing an additional 85 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $663.59 on Thursday. Cintas Co. has a fifty-two week low of $454.70 and a fifty-two week high of $704.84. The company has a market cap of $67.27 billion, a PE ratio of 45.83, a P/E/G ratio of 3.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. The business has a 50-day simple moving average of $651.02 and a two-hundred day simple moving average of $597.11.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the business earned $3.14 EPS. Cintas’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts expect that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CTAS shares. The Goldman Sachs Group upped their price objective on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Truist Financial increased their price objective on shares of Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Oppenheimer restated a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Finally, UBS Group increased their target price on Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $661.21.

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.