Cintas Co. (NASDAQ:CTAS) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its position in Cintas Co. (NASDAQ:CTAS) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,466,304 shares of the business services provider’s stock after selling 89,001 shares during the period. Wells Fargo & Company MN owned 0.36% of Cintas worth $267,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Geode Capital Management LLC grew its position in shares of Cintas by 309.7% in the 3rd 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. Norges Bank bought a new position in Cintas during the fourth quarter worth $877,216,000. Franklin Resources Inc. boosted 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. JPMorgan Chase & Co. boosted its holdings in Cintas by 137.5% in 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 during the period. Finally, Barclays PLC increased its stake in Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock valued at $224,312,000 after purchasing an additional 841,952 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Down 7.1 %

Shares of CTAS stock opened at $190.33 on Friday. The stock has a 50-day simple moving average of $201.48 and a 200 day simple moving average of $204.55. The stock has a market capitalization of $76.81 billion, a P/E ratio of 45.89, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week 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.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $3.84 EPS. On average, sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s payout ratio is presently 36.11%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CTAS shares. Morgan Stanley increased their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, UBS Group upped their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $210.58.

Cintas 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.