HFR Wealth Management LLC Reduces Stake in Cintas Co. (NASDAQ:CTAS)

HFR Wealth Management LLC reduced its holdings in Cintas Co. (NASDAQ:CTAS) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 100,768 shares of the business services provider’s stock after selling 1,098 shares during the period. Cintas accounts for approximately 4.5% of HFR Wealth Management LLC’s portfolio, making the stock its 3rd largest position. HFR Wealth Management LLC’s holdings in Cintas were worth $18,410,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC increased its position in Cintas by 5.5% in the 4th quarter. Fidelis Capital Partners LLC now owns 6,925 shares of the business services provider’s stock worth $1,400,000 after buying an additional 361 shares during the period. LGT Fund Management Co Ltd. increased its position in shares of Cintas by 63.9% during the fourth quarter. LGT Fund Management Co Ltd. now owns 10,260 shares of the business services provider’s stock valued at $1,875,000 after purchasing an additional 4,000 shares during the period. Plato Investment Management Ltd increased its position in shares of Cintas by 33.2% during the fourth quarter. Plato Investment Management Ltd now owns 12,020 shares of the business services provider’s stock valued at $2,204,000 after purchasing an additional 2,996 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Cintas during the fourth quarter valued at approximately $2,745,000. Finally, Jones Financial Companies Lllp increased its position in shares of Cintas by 110.3% during the fourth quarter. Jones Financial Companies Lllp now owns 19,054 shares of the business services provider’s stock valued at $3,481,000 after purchasing an additional 9,992 shares during the period. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CTAS shares. The Goldman Sachs Group lowered their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Wells Fargo & Company decreased their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. UBS Group decreased their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Price Performance

Cintas stock opened at $207.43 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market cap of $83.71 billion, a P/E ratio of 50.01, a P/E/G ratio of 3.98 and a beta of 1.38. The business’s fifty day moving average is $197.54 and its two-hundred day moving average is $209.05. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company 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 business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.61 earnings per share. Equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s payout ratio is currently 37.59%.

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.