USA Financial Formulas Decreases Position in Cintas Co. (NASDAQ:CTAS)

USA Financial Formulas decreased its position in Cintas Co. (NASDAQ:CTAS) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,143 shares of the business services provider’s stock after selling 334 shares during the period. Cintas comprises approximately 0.4% of USA Financial Formulas’ portfolio, making the stock its 11th biggest holding. USA Financial Formulas’ holdings in Cintas were worth $2,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. Axxcess Wealth Management LLC raised its position in shares of Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares during the period. E Fund Management Co. Ltd. raised its holdings in Cintas by 1.9% during the 2nd quarter. E Fund Management Co. Ltd. now owns 997 shares of the business services provider’s stock valued at $698,000 after acquiring an additional 19 shares during the period. Evergreen Capital Management LLC lifted its position in shares of Cintas by 4.8% during the second quarter. Evergreen Capital Management LLC now owns 827 shares of the business services provider’s stock worth $579,000 after acquiring an additional 38 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Cintas by 6.9% in the second quarter. Moors & Cabot Inc. now owns 757 shares of the business services provider’s stock worth $530,000 after acquiring an additional 49 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Cintas by 1.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,664 shares of the business services provider’s stock valued at $5,053,000 after purchasing an additional 65 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Robert W. Baird cut their price objective 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. The Goldman Sachs Group decreased their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Jefferies Financial Group cut their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Finally, Truist Financial decreased their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Up 1.8 %

Shares of CTAS opened at $195.70 on Thursday. Cintas Co. has a 1 year low of $146.29 and a 1 year high of $228.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a 50 day simple moving average of $206.61 and a two-hundred day simple moving average of $204.87. The firm has a market cap of $78.97 billion, a P/E ratio of 49.42, a P/E/G ratio of 4.16 and a beta of 1.37.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 EPS. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.80%. Cintas’s dividend payout ratio is currently 37.59%.

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.