Andra AP fonden Sells 16,000 Shares of Cintas Co. (NASDAQ:CTAS)

Andra AP fonden trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 9.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 154,900 shares of the business services provider’s stock after selling 16,000 shares during the quarter. Andra AP fonden’s holdings in Cintas were worth $28,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 1,450 shares during the period. KMG Fiduciary Partners LLC lifted its holdings 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 worth $2,109,000 after acquiring an additional 6,341 shares during the period. Wellington Management Group LLP lifted its holdings 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 during the period. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in shares of 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 acquiring an additional 1,988 shares during the period. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTAS. Robert W. Baird dropped their target price 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. Morgan Stanley increased their target price 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. Truist Financial dropped their target price 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. Wells Fargo & Company dropped their target price 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, The Goldman Sachs Group lowered their price objective 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Stock Down 2.3 %

Shares of NASDAQ:CTAS opened at $200.60 on Friday. Cintas Co. has a one year low of $154.15 and a one year high of $228.12. The company has a 50 day moving average of $198.51 and a 200-day moving average of $209.06. 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 stock has a market cap of $80.95 billion, a price-to-earnings ratio of 48.37, a P/E/G ratio of 3.98 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping 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 company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the company earned $3.61 EPS. Cintas’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is 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.