Cintas Co. (NASDAQ:CTAS) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,059,592 shares of the business services provider’s stock after selling 35,042 shares during the quarter. Clearbridge Investments LLC owned approximately 0.26% of Cintas worth $193,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CTAS. State Street Corp boosted its holdings 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 valued at $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. Geode Capital Management LLC lifted its position in Cintas by 309.7% in the 3rd 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 purchasing an additional 6,235,052 shares during the last quarter. Norges Bank acquired a new position in Cintas during the 4th quarter valued at about $877,216,000. Franklin Resources Inc. grew its position in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 1.5 %

Cintas stock opened at $203.22 on Monday. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The firm’s 50 day moving average price is $201.01 and its two-hundred day moving average price is $204.62. The firm has a market cap of $82.01 billion, a price-to-earnings ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the firm earned $3.84 earnings per share. Cintas’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTAS. The Goldman Sachs Group boosted their price objective on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday. UBS Group raised their price target on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Finally, Robert W. Baird increased their target price on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $210.58.

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.