Cintas Corporation $CTAS Stake Lowered by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 458,081 shares of the business services provider’s stock after selling 52,534 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.11% of Cintas worth $86,151,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CTAS. One Capital Management LLC lifted its holdings in shares of Cintas by 0.9% in the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after purchasing an additional 53 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Cintas by 1.1% in the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock valued at $951,000 after purchasing an additional 54 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Cintas by 1.4% in the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock valued at $824,000 after purchasing an additional 59 shares in the last quarter. Woodward Diversified Capital LLC lifted its holdings in shares of Cintas by 4.8% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 59 shares in the last quarter. Finally, Ausdal Financial Partners Inc. lifted its holdings in shares of Cintas by 2.8% in the second quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock valued at $510,000 after purchasing an additional 63 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Down 3.1%

NASDAQ CTAS opened at $176.28 on Friday. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $226.75. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $70.53 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. The firm’s fifty day simple moving average is $173.55 and its 200-day simple moving average is $184.29.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. Cintas’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 earnings per share. As a group, sell-side analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s dividend payout ratio is presently 50.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CTAS. Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Stifel Nicolaus reduced their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a report on Wednesday, March 11th. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Finally, Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $215.17.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 14.90% of the stock is owned by insiders.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.