TAP Consulting LLC Lowers Position in Cintas Co. (NASDAQ:CTAS)

TAP Consulting LLC lowered its position in Cintas Co. (NASDAQ:CTAS) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,785 shares of the business services provider’s stock after selling 1,097 shares during the period. TAP Consulting LLC’s holdings in Cintas were worth $3,067,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its position in Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares during the period. KMG Fiduciary Partners LLC lifted its position in shares of Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares during the period. Wellington Management Group LLP boosted its stake in shares of Cintas by 211.7% during the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after acquiring an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after acquiring an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC boosted its position in Cintas by 1.6% during the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CTAS shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. The Goldman Sachs Group cut their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley increased their price target on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Robert W. Baird cut their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $199.79.

Cintas Price Performance

CTAS opened at $196.37 on Thursday. Cintas Co. has a 1 year low of $156.83 and a 1 year high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company’s 50 day simple moving average is $200.39 and its 200 day simple moving average is $209.02. The stock has a market capitalization of $79.24 billion, a PE ratio of 47.35, a P/E/G ratio of 3.98 and a beta of 1.41.

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

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

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.