Cintas Co. (NASDAQ:CTAS) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. lowered its stake in Cintas Co. (NASDAQ:CTAS) by 3.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 723,869 shares of the business services provider’s stock after selling 29,535 shares during the quarter. TD Asset Management Inc. owned approximately 0.18% of Cintas worth $132,251,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 valued at $1,199,000 after acquiring an additional 1,450 shares during the last quarter. KMG Fiduciary Partners LLC boosted its stake 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 purchasing an additional 6,341 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 buying an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Finally, Annex Advisory Services LLC raised its position in shares of Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after buying an additional 1,988 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CTAS. The Goldman Sachs Group reduced their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Citigroup began coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. UBS Group lowered their price target on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Truist Financial cut their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Wells Fargo & Company decreased their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $199.79.

Cintas Price Performance

CTAS opened at $193.46 on Wednesday. The company has a 50 day moving average of $200.57 and a two-hundred day moving average of $208.92. Cintas Co. has a 52-week low of $158.10 and a 52-week high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company has a market cap of $78.07 billion, a P/E ratio of 46.64, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.81%. Cintas’s dividend payout ratio is currently 37.59%.

About Cintas

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.