Argus Investors Counsel Inc. Reduces Stock Position in Cintas Co. (NASDAQ:CTAS)

Argus Investors Counsel Inc. cut its holdings in Cintas Co. (NASDAQ:CTAS) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,377 shares of the business services provider’s stock after selling 159 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Cintas were worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its position in shares of Cintas by 28.4% during 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. Wellington Management Group LLP boosted its position in Cintas by 211.7% during 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 acquiring an additional 529,005 shares in the last quarter. KMG Fiduciary Partners LLC grew its holdings 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 worth $2,109,000 after acquiring an additional 6,341 shares during the period. JPMorgan Chase & Co. raised 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 acquiring an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its stake in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after purchasing an additional 1,988 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Truist Financial decreased their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Morgan Stanley upped their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. UBS Group lowered 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $198.46.

Cintas Stock Up 0.5 %

Shares of Cintas stock opened at $201.60 on Thursday. Cintas Co. has a twelve month low of $150.70 and a twelve month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $199.75 and its 200 day moving average is $206.95. The company has a market cap of $81.35 billion, a price-to-earnings ratio of 48.61, a price-to-earnings-growth ratio of 3.87 and a beta of 1.38.

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, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 earnings per share. Research analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business 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 dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.61%.

Cintas Company 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.