Tritonpoint Wealth LLC Lowers Stake in Cintas Co. (NASDAQ:CTAS)

Tritonpoint Wealth LLC trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 14.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,149 shares of the business services provider’s stock after selling 352 shares during the period. Tritonpoint Wealth LLC’s holdings in Cintas were worth $393,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its position in Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after buying an additional 529,005 shares during the last quarter. KMG Fiduciary Partners LLC increased its stake in shares of Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after acquiring an additional 6,341 shares during the period. JPMorgan Chase & Co. raised its holdings in Cintas by 137.5% during 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 in the last quarter. Annex Advisory Services LLC lifted its position in Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after purchasing an additional 1,988 shares during the period. Finally, LVM Capital Management Ltd. MI lifted its position in Cintas by 292.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock valued at $1,002,000 after purchasing an additional 4,086 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $200.57 on Monday. The company has a market cap of $80.94 billion, a P/E ratio of 48.36, a P/E/G ratio of 3.83 and a beta of 1.37. The firm’s 50 day moving average is $201.15 and its two-hundred day moving average is $206.64. Cintas Co. has a fifty-two week low of $150.48 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 issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion for 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%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $3.61 EPS. Analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.78%. Cintas’s payout ratio is 37.61%.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of analyst reports. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company cut their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. 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 Friday, December 20th. Truist Financial cut their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Cintas currently has a consensus rating of “Hold” and an average price target of $198.46.

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.