Cypress Capital Group Cuts Position in Cintas Co. (NASDAQ:CTAS)

Cypress Capital Group cut its stake in Cintas Co. (NASDAQ:CTAS) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,561 shares of the business services provider’s stock after selling 339 shares during the quarter. Cypress Capital Group’s holdings in Cintas were worth $651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hollencrest Capital Management increased its holdings in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 104 shares during the period. Addison Advisors LLC increased its holdings in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Cintas in the 4th quarter worth $27,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the 4th quarter worth $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Cintas in the 4th quarter worth $34,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of Cintas stock opened at $205.29 on Thursday. 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 Co. has a twelve month low of $154.15 and a twelve month high of $228.12. The business has a 50-day moving average price of $198.20 and a 200 day moving average price of $209.12. The firm has a market cap of $82.84 billion, a PE ratio of 49.50, a P/E/G ratio of 3.98 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business earned $3.61 EPS. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CTAS. Morgan Stanley raised their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. The Goldman Sachs Group lowered their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Truist Financial lowered their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. 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 presently has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Company 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.