Nicholas Hoffman & Company LLC. Sells 1,232 Shares of Cintas Co. (NASDAQ:CTAS)

Nicholas Hoffman & Company LLC. reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 44.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,537 shares of the business services provider’s stock after selling 1,232 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Cintas were worth $281,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CTAS. State Street Corp grew its stake in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after buying an additional 10,910,285 shares during the last quarter. FMR LLC boosted its holdings in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after acquiring an additional 6,571,128 shares during the period. Geode Capital Management LLC boosted its holdings in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after acquiring an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its position in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group decreased their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Truist Financial lowered their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Finally, Robert W. Baird cut their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Trading Down 0.9 %

Shares of CTAS opened at $204.22 on Tuesday. The stock has a 50 day simple moving average of $197.04 and a 200-day simple moving average of $207.76. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $82.41 billion, a PE ratio of 49.24, a PEG ratio of 3.95 and a beta of 1.38. Cintas Co. has a 1 year low of $152.77 and a 1 year high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business earned $3.61 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is 37.61%.

Cintas Company Profile

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.