Bar Harbor Wealth Management Sells 456 Shares of Cintas Co. (NASDAQ:CTAS)

Bar Harbor Wealth Management lessened its position in Cintas Co. (NASDAQ:CTAS) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,560 shares of the business services provider’s stock after selling 456 shares during the quarter. Bar Harbor Wealth Management’s holdings in Cintas were worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Axxcess Wealth Management LLC lifted its position in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after buying an additional 14 shares during the period. Alpha Financial Partners LLC lifted its position in Cintas by 5.1% during the 2nd quarter. Alpha Financial Partners LLC now owns 389 shares of the business services provider’s stock valued at $272,000 after acquiring an additional 19 shares during the period. E Fund Management Co. Ltd. boosted its stake in Cintas by 1.9% during the second quarter. E Fund Management Co. Ltd. now owns 997 shares of the business services provider’s stock worth $698,000 after acquiring an additional 19 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Cintas by 2.8% during the second quarter. Parallel Advisors LLC now owns 1,415 shares of the business services provider’s stock valued at $991,000 after purchasing an additional 38 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

CTAS stock opened at $190.60 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a 1 year low of $146.29 and a 1 year high of $228.12. The company has a market cap of $76.92 billion, a P/E ratio of 48.13, a price-to-earnings-growth ratio of 4.15 and a beta of 1.37. The stock’s fifty day moving average price is $206.94 and its 200-day moving average price is $204.75.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the company posted $3.61 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s payout ratio is presently 37.59%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Wells Fargo & Company cut 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. Morgan Stanley lifted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial cut their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, UBS Group decreased their target price 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 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.com, the company has a consensus rating of “Hold” and a consensus price target of $198.46.

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.