State of Alaska Department of Revenue Sells 2,974 Shares of Cintas Co. (NASDAQ:CTAS)

State of Alaska Department of Revenue reduced its position in Cintas Co. (NASDAQ:CTAS) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 67,630 shares of the business services provider’s stock after selling 2,974 shares during the period. State of Alaska Department of Revenue’s holdings in Cintas were worth $12,355,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. lifted its stake in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Hollencrest Capital Management lifted its stake in 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 purchasing an additional 104 shares during the last quarter. Addison Advisors LLC lifted its position in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the last quarter. Grove Bank & Trust lifted its position in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in Cintas during the fourth quarter worth approximately $27,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on CTAS. Truist Financial cut their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley raised their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Robert W. Baird cut their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company cut their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Up 1.3 %

Shares of CTAS opened at $204.29 on Friday. Cintas Co. has a one year low of $150.70 and a one year high of $228.12. The company has a market cap of $82.44 billion, a P/E ratio of 49.26, a P/E/G ratio of 3.87 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The firm has a 50 day simple moving average of $199.75 and a two-hundred day simple moving average of $206.95.

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

Cintas Announces Dividend

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 given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is currently 37.61%.

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.