Mirae Asset Global Investments Co. Ltd. Sells 1,311 Shares of Cintas Co. (NASDAQ:CTAS)

Mirae Asset Global Investments Co. Ltd. decreased its stake in Cintas Co. (NASDAQ:CTAS) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,653 shares of the business services provider’s stock after selling 1,311 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cintas were worth $23,232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Algert Global LLC acquired a new stake in Cintas during the 2nd quarter worth approximately $328,000. Czech National Bank raised its stake in shares of Cintas by 324.7% during the third quarter. Czech National Bank now owns 69,794 shares of the business services provider’s stock valued at $14,369,000 after acquiring an additional 53,360 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Cintas by 324.4% during the third quarter. Mather Group LLC. now owns 3,879 shares of the business services provider’s stock worth $799,000 after purchasing an additional 2,965 shares during the period. Ignite Planners LLC lifted its holdings in shares of Cintas by 305.2% during the third quarter. Ignite Planners LLC now owns 1,560 shares of the business services provider’s stock worth $321,000 after purchasing an additional 1,175 shares during the period. Finally, Aprio Wealth Management LLC grew its stake in shares of Cintas by 298.5% in the third quarter. Aprio Wealth Management LLC now owns 1,311 shares of the business services provider’s stock worth $270,000 after purchasing an additional 982 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Truist Financial reduced their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, 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 research note on Friday, December 20th. Two equities 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.com, the stock presently has an average rating of “Hold” and an average target price of $198.46.

Cintas Stock Performance

Shares of CTAS stock opened at $201.60 on Thursday. Cintas Co. has a 12 month low of $150.70 and a 12 month high of $228.12. The firm has a market capitalization of $81.35 billion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 3.87 and a beta of 1.38. The firm has a fifty day simple moving average of $200.20 and a two-hundred day simple moving average of $206.99. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $3.61 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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

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.