AMI Asset Management Corp Sells 61,293 Shares of Cintas Co. (NASDAQ:CTAS)

AMI Asset Management Corp trimmed its position in Cintas Co. (NASDAQ:CTAS) by 41.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 87,539 shares of the business services provider’s stock after selling 61,293 shares during the period. AMI Asset Management Corp’s holdings in Cintas were worth $15,993,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CTAS. Wellington Management Group LLP raised its position in Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares during the last quarter. KMG Fiduciary Partners LLC increased its stake in shares of Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after buying an additional 6,341 shares during the period. JPMorgan Chase & Co. raised its holdings in Cintas by 137.5% in the 3rd 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 last quarter. LVM Capital Management Ltd. MI grew its holdings in Cintas by 292.7% during the 4th quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock worth $1,002,000 after acquiring an additional 4,086 shares during the last quarter. Finally, Atria Investments Inc increased its position in Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after acquiring an additional 16,623 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 0.1 %

Shares of NASDAQ:CTAS opened at $198.31 on Tuesday. The firm has a market cap of $80.03 billion, a P/E ratio of 47.81, a PEG ratio of 3.83 and a beta of 1.37. The business’s 50 day simple moving average is $204.69 and its two-hundred day simple moving average is $205.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 52-week low of $146.63 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last issued 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the company earned $3.61 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.79%. Cintas’s dividend payout ratio is presently 37.61%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent research reports. Truist Financial cut 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. Jefferies Financial Group lowered their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Robert W. Baird reduced their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $198.46.

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.