Cintas Co. (NASDAQ:CTAS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,433,111 shares of the business services provider’s stock after selling 59,991 shares during the period. Bank of New York Mellon Corp owned approximately 0.60% of Cintas worth $444,529,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CTAS. State Street Corp raised its position in shares of Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC lifted its stake 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 buying an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. increased 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 worth $693,503,000 after acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cintas by 308.2% during 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 valued at $519,419,000 after acquiring an additional 1,904,926 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 1.2 %

CTAS stock opened at $205.82 on Wednesday. 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 firm has a market cap of $83.06 billion, a PE ratio of 49.63, a PEG ratio of 3.98 and a beta of 1.38. Cintas Co. has a 1 year low of $154.15 and a 1 year high of $228.12. The company has a fifty day simple moving average of $196.31 and a 200 day simple moving average of $208.62.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company posted $3.61 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Ratings Changes

Several research firms have weighed in on CTAS. 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 report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Robert W. Baird reduced their price target 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. Finally, Citigroup began coverage on shares of Cintas in a report on Monday. They set a “sell” rating and a $161.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $199.79.

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.