Cintas Co. (NASDAQ:CTAS) Shares Sold by WBI Investments Inc.

WBI Investments Inc. decreased its stake in shares of Cintas Co. (NASDAQ:CTASFree Report) by 35.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,443 shares of the business services provider’s stock after selling 1,862 shares during the period. WBI Investments Inc.’s holdings in Cintas were worth $1,656,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in Cintas by 5,584.1% in the second quarter. Osaic Holdings Inc. now owns 1,997,277 shares of the business services provider’s stock worth $15,337,000 after acquiring an additional 1,962,139 shares during the last quarter. Norges Bank bought a new position in Cintas in the fourth quarter worth about $379,291,000. Select Equity Group L.P. lifted its holdings in Cintas by 1,344.1% in the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after acquiring an additional 440,662 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cintas by 52.5% in the second quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock worth $422,825,000 after acquiring an additional 292,701 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Cintas by 8,140.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock worth $73,609,000 after acquiring an additional 170,939 shares during the last quarter. Institutional investors own 62.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Cintas from a “buy” rating to a “hold” rating and raised their price target for the company from $551.00 to $590.00 in a research note on Friday, December 8th. Truist Financial raised their price target on shares of Cintas from $645.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada raised their price target on shares of Cintas from $525.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, December 22nd. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $560.57.

Read Our Latest Analysis on Cintas

Insider Activity

In other news, CFO J. Michael Hansen sold 9,774 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $596.91, for a total value of $5,834,198.34. Following the completion of the sale, the chief financial officer now owns 37,732 shares in the company, valued at $22,522,608.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 14.90% of the company’s stock.

Cintas Trading Up 0.2 %

Shares of NASDAQ:CTAS opened at $618.22 on Monday. The stock has a market capitalization of $62.67 billion, a price-to-earnings ratio of 44.86, a PEG ratio of 3.58 and a beta of 1.28. Cintas Co. has a 1-year low of $425.00 and a 1-year high of $626.18. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 2.24. The company has a 50 day moving average price of $588.57 and a 200 day moving average price of $537.28.

Cintas (NASDAQ:CTASGet Free Report) last issued its earnings results on Thursday, December 21st. The business services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.12. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $3.12 earnings per share. On average, research analysts anticipate that Cintas Co. will post 14.57 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 15th will be issued a $1.35 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.87%. Cintas’s payout ratio is currently 39.19%.

Cintas Company Profile

(Free Report)

Cintas Corporation provides 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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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