CIBC Private Wealth Group LLC Sells 27,438 Shares of Cintas Co. (NASDAQ:CTAS)

CIBC Private Wealth Group LLC lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 958,386 shares of the business services provider’s stock after selling 27,438 shares during the period. CIBC Private Wealth Group LLC owned about 0.24% of Cintas worth $184,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Guardian Wealth Advisors LLC boosted its holdings in Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after purchasing an additional 52 shares during the last quarter. MGB Wealth Management LLC lifted its holdings in shares of Cintas by 0.7% in the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after buying an additional 52 shares during the period. TIAA Trust National Association boosted its stake in shares of Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after buying an additional 52 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in Cintas by 2.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock worth $512,000 after acquiring an additional 55 shares during the period. Finally, S.A. Mason LLC grew its holdings in Cintas by 3.3% during the fourth quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider’s stock worth $311,000 after acquiring an additional 55 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTAS has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group boosted their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial lifted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Morgan Stanley lifted their price target on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average price target of $210.58.

Cintas Price Performance

Shares of Cintas stock opened at $203.22 on Friday. The stock has a market capitalization of $82.01 billion, a P/E ratio of 49.00, a PEG ratio of 3.98 and a beta of 1.41. The business has a 50 day simple moving average of $201.01 and a two-hundred day simple moving average of $208.92. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the company earned $3.84 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas’s payout ratio is presently 36.11%.

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.