Steward Partners Investment Advisory LLC Sells 67 Shares of Cintas Co. (NASDAQ:CTAS)

Steward Partners Investment Advisory LLC reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 0.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 69,060 shares of the business services provider’s stock after selling 67 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Cintas were worth $12,617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after buying an additional 10,910,285 shares during the period. FMR LLC grew its position in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. lifted its position in shares of Cintas by 264.7% during 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CTAS shares. Citigroup began coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. UBS Group decreased their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Finally, Robert W. Baird dropped their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $199.79.

Cintas Price Performance

Cintas stock opened at $204.56 on Wednesday. The stock has a market cap of $82.55 billion, a price-to-earnings ratio of 49.32, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a 12-month low of $154.15 and a 12-month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $197.86 and its 200 day simple moving average is $209.14.

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

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given 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%.

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.