NewEdge Advisors LLC Reduces Stock Position in Cintas Co. (NASDAQ:CTAS)

NewEdge Advisors LLC decreased its holdings in Cintas Co. (NASDAQ:CTAS) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,128 shares of the business services provider’s stock after selling 945 shares during the period. NewEdge Advisors LLC’s holdings in Cintas were worth $2,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new stake in Cintas during the 4th quarter valued at about $877,216,000. Franklin Resources Inc. raised its stake in shares of Cintas by 264.7% during 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings 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. Winslow Capital Management LLC purchased a new position in Cintas during the 4th quarter worth $196,057,000. Finally, Barclays PLC raised its position in Cintas by 340.1% during the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock valued at $224,312,000 after purchasing an additional 841,952 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Truist Financial boosted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Morgan Stanley upped their target price on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Finally, UBS Group raised their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $213.62.

Insiders Place Their Bets

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

Cintas Trading Down 2.6 %

Shares of Cintas stock opened at $200.41 on Tuesday. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The firm’s 50 day simple moving average is $201.34 and its two-hundred day simple moving average is $204.29. 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 capitalization of $80.92 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last issued 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. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $3.84 EPS. Analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.78%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

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.