Franklin Resources Inc. Reduces Position in Cintas Co. (NASDAQ:CTAS)

Franklin Resources Inc. reduced its position in shares of Cintas Co. (NASDAQ:CTAS) by 17.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,695,613 shares of the business services provider’s stock after selling 583,416 shares during the period. Franklin Resources Inc.’s holdings in Cintas were worth $492,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new position in shares of Cintas during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC purchased a new stake in Cintas during the fourth quarter worth approximately $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC increased its stake in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Cintas during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 1.1 %

NASDAQ:CTAS opened at $205.53 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $201.15 and its 200-day simple moving average is $204.61. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The firm has a market cap of $82.94 billion, a P/E ratio of 49.56, a PEG ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the company posted $3.84 EPS. Cintas’s revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s payout ratio is currently 36.11%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CTAS shares. Morgan Stanley upped their target price on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Wells Fargo & Company lifted their target price on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. UBS Group upped their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Truist Financial lifted their price target on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average price target of $210.58.

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.