LMR Partners LLP Trims Stake in Cintas Co. (NASDAQ:CTAS)

LMR Partners LLP lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 39.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,150 shares of the business services provider’s stock after selling 736 shares during the period. LMR Partners LLP’s holdings in Cintas were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. J. W. Coons Advisors LLC increased its stake in Cintas by 292.6% in the 3rd quarter. J. W. Coons Advisors LLC now owns 5,320 shares of the business services provider’s stock worth $1,095,000 after buying an additional 3,965 shares in the last quarter. Braun Stacey Associates Inc. increased its stake in Cintas by 243.1% in the 3rd quarter. Braun Stacey Associates Inc. now owns 4,828 shares of the business services provider’s stock worth $994,000 after buying an additional 3,421 shares in the last quarter. GLOBALT Investments LLC GA increased its stake in Cintas by 277.0% in the 3rd quarter. GLOBALT Investments LLC GA now owns 34,154 shares of the business services provider’s stock worth $7,032,000 after buying an additional 25,094 shares in the last quarter. Quest Partners LLC increased its stake in Cintas by 70.4% in the 3rd quarter. Quest Partners LLC now owns 5,172 shares of the business services provider’s stock worth $1,065,000 after buying an additional 2,137 shares in the last quarter. Finally, MAI Capital Management increased its stake in Cintas by 173.5% in the 3rd quarter. MAI Capital Management now owns 8,789 shares of the business services provider’s stock worth $1,810,000 after buying an additional 5,575 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. UBS Group increased their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Truist Financial increased their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Jefferies Financial Group dropped their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Up 0.4 %

Shares of NASDAQ:CTAS opened at $218.75 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $227.35. The company has a 50-day moving average price of $210.05 and a 200 day moving average price of $196.56. The company has a market cap of $88.22 billion, a price-to-earnings ratio of 55.24, a PEG ratio of 4.24 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.70 earnings per share. As a group, equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is currently 39.39%.

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.