Parnassus Investments LLC Sells 834 Shares of Cintas Co. (NASDAQ:CTAS)

Parnassus Investments LLC decreased its stake in Cintas Co. (NASDAQ:CTAS) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,373 shares of the business services provider’s stock after selling 834 shares during the period. Parnassus Investments LLC’s holdings in Cintas were worth $11,578,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CTAS. Impax Asset Management Group plc grew its holdings 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 purchasing an additional 1,648,350 shares during the period. Assetmark Inc. boosted its holdings in shares of Cintas by 406.4% during the third quarter. Assetmark Inc. now owns 7,343 shares of the business services provider’s stock worth $1,512,000 after acquiring an additional 5,893 shares during the period. Sigma Planning Corp boosted its holdings in shares of Cintas by 444.4% during the third quarter. Sigma Planning Corp now owns 2,929 shares of the business services provider’s stock worth $603,000 after acquiring an additional 2,391 shares during the period. Versor Investments LP bought a new stake in shares of Cintas during the third quarter worth approximately $213,000. Finally, Aigen Investment Management LP boosted its holdings in shares of Cintas by 46.7% during the third quarter. Aigen Investment Management LP now owns 1,240 shares of the business services provider’s stock worth $255,000 after acquiring an additional 395 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.2 %

Shares of CTAS opened at $192.84 on Friday. Cintas Co. has a 52 week low of $155.85 and a 52 week high of $228.12. The stock has a market capitalization of $77.82 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 3.98 and a beta of 1.41. 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 fifty day moving average of $200.02 and a 200-day moving average of $209.07.

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, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.61 earnings per share. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. Cintas’s payout ratio is 37.59%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Robert W. Baird cut their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. 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. Citigroup started coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Finally, UBS Group cut their price target on Cintas from $240.00 to $218.00 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 assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.79.

Cintas 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.