IHT Wealth Management LLC Lowers Stake in Cintas Co. (NASDAQ:CTAS)

IHT Wealth Management LLC decreased its position in shares of Cintas Co. (NASDAQ:CTAS) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,518 shares of the business services provider’s stock after selling 225 shares during the quarter. IHT Wealth Management LLC’s holdings in Cintas were worth $5,758,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Cintas during the 4th quarter valued at about $877,216,000. Franklin Resources Inc. raised its stake 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 acquiring an additional 2,379,932 shares during the period. JPMorgan Chase & Co. grew its holdings in Cintas by 137.5% during the 3rd 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 last quarter. Winslow Capital Management LLC purchased a new stake in shares of Cintas in the fourth quarter worth approximately $196,057,000. Finally, Barclays PLC lifted its holdings in Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock worth $224,312,000 after buying an additional 841,952 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 price objective on the stock. The Goldman Sachs Group increased their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Morgan Stanley lifted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. UBS Group boosted their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Truist Financial lifted their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $213.62.

Cintas Trading Up 0.5 %

Shares of NASDAQ:CTAS opened at $205.76 on Monday. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. 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 company has a market cap of $83.08 billion, a PE ratio of 49.61, a P/E/G ratio of 3.98 and a beta of 1.20. The company’s 50 day moving average is $201.42 and its two-hundred day moving average is $204.32.

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

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s payout ratio is currently 36.11%.

Insiders Place Their Bets

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. The trade was a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at $48,835,235.36. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Cintas 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.