Ritholtz Wealth Management Decreases Stock Position in Cintas Co. (NASDAQ:CTAS)

Ritholtz Wealth Management cut its stake in Cintas Co. (NASDAQ:CTAS) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,781 shares of the business services provider’s stock after selling 41 shares during the period. Ritholtz Wealth Management’s holdings in Cintas were worth $4,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CTAS. Norges Bank acquired a new stake in Cintas in the fourth quarter valued at $379,291,000. Select Equity Group L.P. raised its stake in Cintas by 1,344.1% in the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock valued at $213,819,000 after buying an additional 440,662 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Cintas by 52.5% in the second quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock valued at $422,825,000 after buying an additional 292,701 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Cintas by 8,140.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock valued at $73,609,000 after buying an additional 170,939 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Cintas by 17.4% in the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after buying an additional 151,783 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTAS. The Goldman Sachs Group raised their price target on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. UBS Group lifted their target price on Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Robert W. Baird lifted their target price on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $649.60.

Cintas Price Performance

Shares of CTAS opened at $687.03 on Friday. Cintas Co. has a twelve month low of $438.59 and a twelve month high of $704.84. The stock’s 50 day moving average is $620.99 and its two-hundred day moving average is $567.53. The firm has a market capitalization of $69.64 billion, a PE ratio of 49.86, a P/E/G ratio of 3.67 and a beta of 1.27. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the company earned $3.14 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Research analysts anticipate that Cintas Co. will post 14.57 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 14th. Cintas’s dividend payout ratio is presently 39.19%.

Cintas Profile

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.