Mirae Asset Global Investments Co. Ltd. Sells 1,311 Shares of Cintas Co. (NASDAQ:CTAS)

Mirae Asset Global Investments Co. Ltd. decreased its position in Cintas Co. (NASDAQ:CTAS) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,653 shares of the business services provider’s stock after selling 1,311 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cintas were worth $23,232,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CTAS. Financial Management Professionals Inc. lifted its holdings in Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management raised its stake in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Cintas during the 4th quarter worth $27,000. Addison Advisors LLC boosted its holdings in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares during the last quarter. Finally, Grove Bank & Trust grew its position in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after buying an additional 134 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CTAS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Robert W. Baird lowered their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. UBS Group reduced their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Finally, The Goldman Sachs Group cut their price target on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two research 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 data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Up 0.5 %

CTAS stock opened at $201.60 on Thursday. The stock has a 50-day simple moving average of $200.20 and a two-hundred day simple moving average of $206.99. Cintas Co. has a twelve month low of $150.70 and a twelve month high of $228.12. The firm has a market capitalization of $81.35 billion, a PE ratio of 48.61, a PEG ratio of 3.87 and a beta of 1.38. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last released 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 company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $3.61 earnings per share. On average, equities analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. 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.