Fulton Bank N.A. Decreases Position in Cintas Co. (NASDAQ:CTAS)

Fulton Bank N.A. lowered its stake in Cintas Co. (NASDAQ:CTAS) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,520 shares of the business services provider’s stock after selling 832 shares during the period. Fulton Bank N.A.’s holdings in Cintas were worth $3,749,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Cintas by 211.7% in 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 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 in the last quarter. Atria Investments Inc grew its stake in Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after purchasing an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Cintas by 83.2% during the fourth quarter. GAMMA Investing LLC now owns 11,462 shares of the business services provider’s stock valued at $2,094,000 after buying an additional 5,206 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS stock traded up $2.28 on Wednesday, hitting $191.00. The company had a trading volume of 1,075,792 shares, compared to its average volume of 2,221,602. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $144.13 and a 12-month high of $228.12. The stock has a market cap of $77.03 billion, a price-to-earnings ratio of 48.23, a P/E/G ratio of 4.15 and a beta of 1.37. The stock’s 50-day simple moving average is $208.18 and its 200 day simple moving average is $204.37.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’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. As a group, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CTAS shares. Robert W. Baird lowered their price target 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. Wells Fargo & Company lowered their target price 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. UBS Group cut their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Finally, Barclays lifted their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cintas has an average rating of “Hold” and an average target price of $198.46.

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.