King Luther Capital Management Corp Decreases Stake in Cintas Co. (NASDAQ:CTAS)

King Luther Capital Management Corp lessened its stake in Cintas Co. (NASDAQ:CTAS) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,876,221 shares of the business services provider’s stock after selling 28,075 shares during the quarter. Cintas makes up approximately 1.5% of King Luther Capital Management Corp’s holdings, making the stock its 14th biggest holding. King Luther Capital Management Corp owned about 0.46% of Cintas worth $342,786,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CTAS. Impax Asset Management Group plc raised its stake in Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after acquiring an additional 1,648,350 shares during the period. Summit Global Investments increased its stake in shares of Cintas by 117.4% in the third quarter. Summit Global Investments now owns 1,085 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 586 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Cintas by 295.9% in the third quarter. Verdence Capital Advisors LLC now owns 1,366 shares of the business services provider’s stock valued at $281,000 after purchasing an additional 1,021 shares during the period. Assetmark Inc. increased its stake in shares of Cintas by 406.4% in the third quarter. Assetmark Inc. now owns 7,343 shares of the business services provider’s stock valued at $1,512,000 after purchasing an additional 5,893 shares during the period. Finally, Atria Investments Inc increased its stake in shares of Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 16,623 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Truist Financial decreased their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley increased their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, UBS Group decreased their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $199.79.

Cintas Trading Down 1.2 %

NASDAQ CTAS opened at $200.61 on Tuesday. Cintas Co. has a twelve month low of $154.16 and a twelve month 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 stock has a market cap of $80.95 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 3.98 and a beta of 1.41. The firm’s 50 day moving average price is $199.24 and its two-hundred day moving average price is $209.36.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.61 EPS. Equities analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

Cintas Company Profile

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.