Stock Yards Bank & Trust Co. Sells 121 Shares of Cintas Co. (NASDAQ:CTAS)

Stock Yards Bank & Trust Co. trimmed its stake in shares of Cintas Co. (NASDAQ:CTAS) by 16.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 596 shares of the business services provider’s stock after selling 121 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Cintas were worth $359,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CTAS. FMR LLC increased its position in shares of Cintas by 5.5% during the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after buying an additional 123,468 shares during the period. Invesco Ltd. increased its holdings in Cintas by 17.4% during the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after acquiring an additional 151,783 shares during the period. Northern Trust Corp increased its holdings in Cintas by 7.6% during the 3rd quarter. Northern Trust Corp now owns 1,008,632 shares of the business services provider’s stock worth $485,162,000 after acquiring an additional 71,482 shares during the period. Morgan Stanley boosted its holdings in Cintas by 1.9% in the 3rd quarter. Morgan Stanley now owns 823,280 shares of the business services provider’s stock valued at $396,007,000 after purchasing an additional 15,053 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock valued at $360,637,000 after purchasing an additional 85,662 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the topic of several recent analyst reports. Truist Financial raised their price target on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, March 28th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Deutsche Bank Aktiengesellschaft increased their target price on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Barclays upped their price objective on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, UBS Group boosted their price objective on Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cintas has a consensus rating of “Moderate Buy” and an average target price of $661.21.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $666.33 on Wednesday. The stock has a market cap of $67.55 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 3.90 and a beta of 1.27. The company has a 50 day simple moving average of $645.27 and a two-hundred day simple moving average of $591.22. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. Cintas Co. has a 12 month low of $438.59 and a 12 month high of $704.84.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.26. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.14 earnings per share. As a group, analysts predict that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

Cintas Company Profile

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.