Graypoint LLC Sells 383 Shares of Cintas Co. (NASDAQ:CTAS)

Graypoint LLC trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 14.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,257 shares of the business services provider’s stock after selling 383 shares during the quarter. Graypoint LLC’s holdings in Cintas were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTAS. Wellington Management Group LLP grew its position in shares of Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Cintas by 137.5% during the 3rd 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 in the last quarter. LVM Capital Management Ltd. MI increased its position in shares of Cintas by 292.7% during the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock valued at $1,002,000 after buying an additional 4,086 shares during the period. Atria Investments Inc lifted its holdings in shares of 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 buying an additional 16,623 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of 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 valued at $22,976,000 after acquiring an additional 86,460 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CTAS shares. Wells Fargo & Company lowered their target price 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. Robert W. Baird dropped their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Truist Financial lowered their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Barclays boosted their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $198.46.

Cintas Stock Down 1.7 %

Shares of NASDAQ:CTAS opened at $189.30 on Friday. The stock has a market capitalization of $76.39 billion, a P/E ratio of 47.80, a price-to-earnings-growth ratio of 4.15 and a beta of 1.37. The stock’s 50-day moving average price is $207.28 and its 200-day moving average price is $204.47. 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 $145.91 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company earned $3.61 EPS. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were given a dividend of $0.39 per share. The ex-dividend date was Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s payout ratio is currently 37.59%.

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.