Cintas Co. (NASDAQ:CTAS) Stake Lessened by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in shares of Cintas Co. (NASDAQ:CTAS) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,215 shares of the business services provider’s stock after selling 3,956 shares during the period. QRG Capital Management Inc.’s holdings in Cintas were worth $5,520,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management raised its stake in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares in the last quarter. Sound Income Strategies LLC bought a new position in Cintas during the fourth quarter valued at about $27,000. Addison Advisors LLC grew its holdings in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the period. Endeavor Private Wealth Inc. bought a new stake in Cintas in the fourth quarter worth about $31,000. Finally, Quintet Private Bank Europe S.A. lifted its holdings in Cintas by 357.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 160 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $207.50 on Friday. The firm has a market cap of $83.74 billion, a price-to-earnings ratio of 50.03, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a 1 year low of $154.15 and a 1 year high of $228.12. 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 business has a fifty day simple moving average of $197.13 and a 200 day simple moving average of $208.68.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $3.61 EPS. As a group, sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is 37.59%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTAS. Truist Financial lowered their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Morgan Stanley upped their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Citigroup assumed coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Finally, Robert W. Baird cut their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.79.

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.