TimesSquare Capital Management LLC Cuts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

TimesSquare Capital Management LLC lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,102 shares of the business services provider’s stock after selling 111,960 shares during the period. Cintas makes up approximately 1.3% of TimesSquare Capital Management LLC’s portfolio, making the stock its 14th biggest holding. TimesSquare Capital Management LLC owned approximately 0.12% of Cintas worth $89,359,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CTAS. China Universal Asset Management Co. Ltd. increased its stake in Cintas by 28.4% during the 4th 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. Wellington Management Group LLP increased its stake in 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 buying an additional 529,005 shares during the period. KMG Fiduciary Partners LLC increased its stake in Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after buying an additional 6,341 shares during the period. JPMorgan Chase & Co. increased its stake in 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 buying an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC increased its stake in Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after buying an additional 1,988 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Wells Fargo & Company decreased their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Truist Financial decreased their price objective 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, Robert W. Baird decreased their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $198.46.

Cintas Stock Performance

Cintas stock opened at $203.74 on Wednesday. The firm’s 50 day simple moving average is $196.84 and its 200-day simple moving average is $207.96. The company has a market cap of $82.22 billion, a P/E ratio of 49.12, a price-to-earnings-growth ratio of 3.95 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. Cintas Co. has a fifty-two week low of $152.77 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last released 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 the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $3.61 earnings per share. As a group, equities research analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 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.