Cintas Co. (NASDAQ:CTAS) Stock Position Lowered by Citigroup Inc.

Citigroup Inc. decreased its holdings in shares of Cintas Co. (NASDAQ:CTASFree Report) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,444 shares of the business services provider’s stock after selling 12,068 shares during the quarter. Citigroup Inc. owned approximately 0.11% of Cintas worth $52,644,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its stake in Cintas by 0.6% in the 2nd quarter. BlackRock Inc. now owns 7,991,359 shares of the business services provider’s stock valued at $3,972,345,000 after buying an additional 46,864 shares during the last quarter. State Street Corp grew its stake in Cintas by 0.4% in the 2nd quarter. State Street Corp now owns 3,782,333 shares of the business services provider’s stock valued at $1,880,122,000 after buying an additional 14,694 shares during the last quarter. Osaic Holdings Inc. grew its stake in Cintas by 5,584.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,997,277 shares of the business services provider’s stock valued at $15,337,000 after buying an additional 1,962,139 shares during the last quarter. Geode Capital Management LLC grew its stake in Cintas by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,935,910 shares of the business services provider’s stock valued at $959,846,000 after buying an additional 64,817 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Cintas by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,419,068 shares of the business services provider’s stock valued at $656,575,000 after buying an additional 115,712 shares during the last quarter. Institutional investors and hedge funds own 62.26% of the company’s stock.

Insider Activity at Cintas

In related news, CFO J. Michael Hansen sold 9,774 shares of Cintas stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $596.91, for a total transaction of $5,834,198.34. Following the completion of the transaction, the chief financial officer now directly owns 37,732 shares of the company’s stock, valued at approximately $22,522,608.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on CTAS. Truist Financial raised their price target on shares of Cintas from $645.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. JPMorgan Chase & Co. raised their price target on shares of Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Royal Bank of Canada raised their price target on shares of Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Finally, Stifel Nicolaus raised their price target on shares of Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $560.57.

Check Out Our Latest Research Report on CTAS

Cintas Price Performance

NASDAQ:CTAS opened at $618.22 on Monday. The company has a 50-day moving average of $588.57 and a 200-day moving average of $537.28. The company has a market capitalization of $62.67 billion, a price-to-earnings ratio of 44.86, a PEG ratio of 3.58 and a beta of 1.28. Cintas Co. has a 52 week low of $425.00 and a 52 week high of $626.18. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 2.24.

Cintas (NASDAQ:CTASGet Free Report) last announced its quarterly earnings results on Thursday, December 21st. The business services provider reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.12. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the firm posted $3.12 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cintas Co. will post 14.57 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 15th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 0.87%. The ex-dividend date is Wednesday, February 14th. Cintas’s dividend payout ratio is currently 39.19%.

About Cintas

(Free Report)

Cintas Corporation provides 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.

Further Reading

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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