Terra Nova Asset Management LLC Reduces Holdings in Cintas Co. (NASDAQ:CTAS)

Terra Nova Asset Management LLC reduced its stake in Cintas Co. (NASDAQ:CTAS) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,098 shares of the business services provider’s stock after selling 164 shares during the period. Terra Nova Asset Management LLC’s holdings in Cintas were worth $566,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. State Street Corp grew its holdings in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC lifted its holdings in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after acquiring an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cintas by 308.2% during 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 worth $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CTAS shares. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. UBS Group dropped their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group lowered their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, Jefferies Financial Group dropped their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Up 0.1 %

CTAS opened at $198.31 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company has a market cap of $80.03 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 3.65 and a beta of 1.37. Cintas Co. has a one year low of $146.63 and a one year high of $228.12. The business’s fifty day moving average is $205.21 and its two-hundred day moving average is $205.14.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

About Cintas

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.