American Century Companies Inc. Lowers Position in Cintas Co. (NASDAQ:CTAS)

American Century Companies Inc. lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,028,180 shares of the business services provider’s stock after selling 10,231 shares during the period. American Century Companies Inc. owned 0.25% of Cintas worth $187,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in shares of Cintas in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas in the fourth quarter worth $29,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas in the fourth quarter worth $31,000. IAG Wealth Partners LLC increased its stake in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Cintas in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Cintas stock opened at $191.17 on Friday. 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 has a 50-day moving average of $200.46 and a 200-day moving average of $208.91. The firm has a market cap of $77.15 billion, a P/E ratio of 46.09, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas Co. has a 1-year low of $158.10 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last posted its 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. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.61 earnings per share. Sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company reduced 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. Truist Financial reduced their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Citigroup assumed coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Finally, Robert W. Baird reduced their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $199.79.

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.