Wolverine Asset Management LLC Has $365,000 Position in Cintas Co. (NASDAQ:CTAS)

Wolverine Asset Management LLC trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 33.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,000 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Cintas were worth $365,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have recently commented on CTAS. UBS Group reduced their target price on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group reduced their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Morgan Stanley lifted their price target on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $198.46.

Cintas Stock Down 0.7 %

Cintas stock opened at $204.43 on Monday. 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 stock has a market cap of $82.50 billion, a PE ratio of 49.29, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. Cintas Co. has a fifty-two week low of $154.15 and a fifty-two week high of $228.12. The firm’s 50-day simple moving average is $196.53 and its 200 day simple moving average is $208.39.

Cintas (NASDAQ:CTAS) last released its 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 company had revenue of $2.56 billion during 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%. Cintas’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.61 earnings per share. Research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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