Shelton Capital Management Sells 1,028 Shares of Cintas Co. (NASDAQ:CTAS)

Shelton Capital Management reduced its position in shares of Cintas Co. (NASDAQ:CTAS) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,203 shares of the business services provider’s stock after selling 1,028 shares during the quarter. Shelton Capital Management’s holdings in Cintas were worth $9,537,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Cintas by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after buying an additional 219,809 shares during the period. Invesco Ltd. boosted its position in shares of Cintas by 6.1% in the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after purchasing an additional 296,059 shares during the last quarter. Norges Bank acquired a new stake in shares of Cintas during the fourth quarter worth $877,216,000. Franklin Resources Inc. increased 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 valued at $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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 valued at $457,574,000 after buying an additional 1,286,668 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on CTAS. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Morgan Stanley boosted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. The Goldman Sachs Group lifted their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Truist Financial upped their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, UBS Group lifted their target price on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $210.58.

Cintas Stock Performance

Shares of Cintas stock opened at $190.54 on Tuesday. The company has a 50 day moving average of $201.24 and a 200-day moving average of $204.48. The company has a market cap of $76.89 billion, a PE ratio of 45.94, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the business posted $3.84 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.82%. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

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.