Cintas Co. (NASDAQ:CTAS) Position Trimmed by Chesapeake Wealth Management

Chesapeake Wealth Management lowered its position in shares of Cintas Co. (NASDAQ:CTAS) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,782 shares of the business services provider’s stock after selling 158 shares during the period. Chesapeake Wealth Management’s holdings in Cintas were worth $326,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC grew its holdings in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after acquiring an additional 1,904,926 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

NASDAQ:CTAS opened at $198.31 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $205.21 and its two-hundred day simple moving average is $205.34. The stock has a market cap of $80.03 billion, a PE ratio of 47.81, a P/E/G ratio of 3.83 and a beta of 1.37. Cintas Co. has a 52 week low of $146.63 and a 52 week high of $228.12.

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

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is 37.61%.

Analysts Set New Price Targets

CTAS has been the subject of several research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Robert W. Baird lowered their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group decreased their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Jefferies Financial Group decreased their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Finally, Morgan Stanley lifted their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $198.46.

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.