Alecta Tjanstepension Omsesidigt Trims Stake in Cintas Co. (NASDAQ:CTAS)

Alecta Tjanstepension Omsesidigt lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,390,600 shares of the business services provider’s stock after selling 239,400 shares during the quarter. Cintas makes up 1.3% of Alecta Tjanstepension Omsesidigt’s portfolio, making the stock its 23rd biggest position. Alecta Tjanstepension Omsesidigt owned 0.34% of Cintas worth $253,896,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CTAS. China Universal Asset Management Co. Ltd. increased its stake in shares of Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after purchasing an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC boosted its position in shares of Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the period. Wellington Management Group LLP grew its stake in shares of Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after buying an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC boosted its position in Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after buying an additional 1,988 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

NASDAQ CTAS opened at $204.31 on Thursday. 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 fifty day simple moving average of $196.31 and a 200 day simple moving average of $208.59. The company has a market cap of $82.45 billion, a P/E ratio of 49.26, a P/E/G 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.

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

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas’s dividend payout ratio is 37.59%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Citigroup initiated coverage on Cintas in a research note on Monday. They issued a “sell” rating and a $161.00 target price on the stock. The Goldman Sachs Group reduced their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Truist Financial lowered their price target 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. Finally, Robert W. Baird decreased their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cintas currently has an average rating of “Hold” and an average price target of $199.79.

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.