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

AMI Asset Management Corp lowered its position in shares of Cintas Co. (NASDAQ:CTAS) by 41.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 87,539 shares of the business services provider’s stock after selling 61,293 shares during the quarter. AMI Asset Management Corp’s holdings in Cintas were worth $15,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Cintas by 211.7% during the third 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 during the period. KMG Fiduciary Partners LLC increased 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 purchasing an additional 6,341 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cintas by 137.5% during the 3rd 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 during the period. LVM Capital Management Ltd. MI boosted its holdings in shares of Cintas by 292.7% in 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 buying an additional 4,086 shares during the last quarter. Finally, Atria Investments Inc grew its position in Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after buying an additional 16,623 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CTAS shares. UBS Group dropped their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. The Goldman Sachs Group decreased their target price 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 dropped their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $198.46.

Cintas Price Performance

NASDAQ:CTAS opened at $198.31 on Tuesday. The stock has a fifty day moving average of $204.69 and a 200 day moving average of $205.50. Cintas Co. has a 52-week low of $146.63 and a 52-week high of $228.12. The firm has a market capitalization of $80.03 billion, a price-to-earnings ratio of 47.81, a P/E/G ratio of 3.83 and a beta of 1.37. 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 (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion during 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 company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.61 earnings per share. On average, research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. 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.