Cintas Co. (NASDAQ:CTAS) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 883,275 shares of the business services provider’s stock after selling 161,138 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.22% of Cintas worth $161,374,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allianz SE acquired a new position in shares of Cintas during the fourth quarter valued at $15,276,000. Allstate Corp bought a new position in Cintas in the 4th quarter valued at about $1,921,000. Brown Brothers Harriman & Co. increased its stake in Cintas by 6.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 9,901 shares of the business services provider’s stock valued at $1,809,000 after buying an additional 591 shares during the period. denkapparat Operations GmbH bought a new stake in shares of Cintas during the 4th quarter worth about $250,000. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of Cintas by 7.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 20,907 shares of the business services provider’s stock worth $3,820,000 after acquiring an additional 1,501 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 1.5 %

Shares of NASDAQ:CTAS opened at $203.22 on Monday. The firm has a 50 day simple moving average of $201.01 and a 200 day simple moving average of $204.62. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. 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 $82.01 billion, a PE ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the company earned $3.84 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently commented on CTAS shares. UBS Group raised their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday. Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $210.58.

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.