Amundi Lowers Stake in Cintas Co. (NASDAQ:CTAS)

Amundi lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 9.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,849,170 shares of the business services provider’s stock after selling 195,975 shares during the period. Amundi’s holdings in Cintas were worth $356,243,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management lifted its holdings in Cintas by 433.3% during 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. Addison Advisors LLC raised its holdings in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Cintas in the 4th quarter valued at $27,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the 4th quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Cintas in the 4th quarter valued at $34,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS opened at $203.06 on Friday. 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 has a market cap of $81.94 billion, a P/E ratio of 48.96, a PEG ratio of 3.98 and a beta of 1.41. The company has a 50-day moving average of $198.90 and a two-hundred day moving average of $209.23. Cintas Co. has a 12-month low of $154.15 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) 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 analysts’ expectations of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.61 earnings per share. As a group, research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CTAS shares. UBS Group reduced their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Robert W. Baird cut their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Truist Financial cut their price target 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. Morgan Stanley lifted their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company cut their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $199.79.

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.