ING Groep NV Sells 20,325 Shares of Cintas Co. (NASDAQ:CTAS)

ING Groep NV lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,636 shares of the business services provider’s stock after selling 20,325 shares during the period. ING Groep NV’s holdings in Cintas were worth $27,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Wealth Advisors LLC grew its holdings in shares of Cintas by 3.1% during the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after purchasing an additional 52 shares during the last quarter. MGB Wealth Management LLC lifted its stake in shares of Cintas by 0.7% in the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock worth $1,328,000 after acquiring an additional 52 shares during the period. Aaron Wealth Advisors LLC lifted its stake in shares of Cintas by 2.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock worth $512,000 after acquiring an additional 55 shares during the period. S.A. Mason LLC lifted its stake in shares of Cintas by 3.3% in the fourth quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider’s stock worth $311,000 after acquiring an additional 55 shares during the period. Finally, Simon Quick Advisors LLC lifted its stake in shares of Cintas by 5.5% in the fourth quarter. Simon Quick Advisors LLC now owns 1,213 shares of the business services provider’s stock worth $222,000 after acquiring an additional 63 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CTAS. The Goldman Sachs Group cut their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Morgan Stanley lifted their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. UBS Group dropped their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Truist Financial dropped their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $198.46.

Cintas Trading Down 1.1 %

Shares of Cintas stock opened at $205.93 on Friday. The stock has a fifty day simple moving average of $196.67 and a 200 day simple moving average of $207.94. Cintas Co. has a 12-month low of $153.45 and a 12-month high of $228.12. The company has a market capitalization of $83.10 billion, a P/E ratio of 49.65, a price-to-earnings-growth ratio of 3.93 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.

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

Cintas Dividend Announcement

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

About Cintas

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.