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

Howard Capital Management Inc. trimmed its position in shares of Cintas Co. (NASDAQ:CTAS) by 67.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor 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 SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Cintas in the 3rd quarter valued at about $239,000. Ballentine Partners LLC raised its stake in Cintas by 242.7% in the third quarter. Ballentine Partners LLC now owns 2,190 shares of the business services provider’s stock valued at $451,000 after buying an additional 1,551 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of Cintas by 299.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,906 shares of the business services provider’s stock valued at $392,000 after buying an additional 1,429 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in shares of Cintas by 300.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 2,204 shares of the business services provider’s stock worth $445,000 after acquiring an additional 1,653 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Cintas by 201.5% during the 3rd quarter. Allworth Financial LP now owns 5,608 shares of the business services provider’s stock worth $1,155,000 after acquiring an additional 3,748 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

CTAS opened at $204.43 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 52-week low of $154.15 and a 52-week high of $228.12. The firm has a market cap of $82.50 billion, a P/E ratio of 49.29, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. The business’s fifty day moving average is $196.53 and its 200-day moving average is $208.39.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.61 earnings per share. Sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is currently 37.59%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CTAS shares. Morgan Stanley raised their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Truist Financial cut their target price 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. Robert W. Baird lowered their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group cut their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 target price 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 given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $198.46.

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.