Aveo Capital Partners LLC Trims Stock Position in Cintas Co. (NASDAQ:CTAS)

Aveo Capital Partners LLC cut its stake in Cintas Co. (NASDAQ:CTAS) by 6.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,394 shares of the business services provider’s stock after selling 222 shares during the quarter. Aveo Capital Partners LLC’s holdings in Cintas were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC increased its stake in Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC increased its stake in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. increased its stake in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on CTAS shares. Truist Financial dropped their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. UBS Group dropped their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cintas has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Trading Down 0.9 %

Shares of CTAS opened at $204.22 on Friday. Cintas Co. has a twelve month low of $152.77 and a twelve month high of $228.12. The firm has a market capitalization of $82.41 billion, a P/E ratio of 49.24, a PEG ratio of 3.95 and a beta of 1.38. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average is $197.04 and its two-hundred day moving average is $207.53.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm earned $3.61 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.61%.

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.