Howard Capital Management Inc. Has $1.82 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Howard Capital Management Inc. cut its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 67.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,985 shares of the business services provider’s stock after selling 20,570 shares during the period. Howard Capital Management Inc.’s holdings in Cintas were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after buying an additional 1,450 shares during the period. KMG Fiduciary Partners LLC raised its position in shares of Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Finally, Annex Advisory Services LLC grew its stake in shares of Cintas by 1.6% during the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS opened at $204.43 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a market capitalization of $82.50 billion, a price-to-earnings ratio of 49.29, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a 1 year low of $154.15 and a 1 year high of $228.12. The business’s 50-day moving average price is $196.53 and its two-hundred day moving average price is $208.39.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm 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 firm posted $3.61 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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 paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s payout ratio is currently 37.59%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company cut their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. UBS Group decreased their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Finally, Truist Financial reduced their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.