Guggenheim Capital LLC Cuts Stock Position in Cintas Co. (NASDAQ:CTAS)

Guggenheim Capital LLC lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 2.7% during the 4th quarter, HoldingsChannel reports. The firm owned 144,344 shares of the business services provider’s stock after selling 3,995 shares during the period. Guggenheim Capital LLC’s holdings in Cintas were worth $26,372,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Cintas in the 4th quarter worth $877,216,000. Franklin Resources Inc. lifted its holdings in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the last quarter. JPMorgan Chase & Co. grew its position in Cintas by 137.5% in the third 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. Winslow Capital Management LLC bought a new stake in Cintas during the fourth quarter worth approximately $196,057,000. Finally, Barclays PLC raised its position in Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock valued at $224,312,000 after purchasing an additional 841,952 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insider Transactions at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Robert W. Baird lifted their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. 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 Thursday, March 27th. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Finally, Morgan Stanley increased their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $213.62.

Cintas Stock Up 1.7 %

Shares of NASDAQ CTAS opened at $209.62 on Tuesday. The stock has a 50 day moving average price of $201.25 and a 200 day moving average price of $204.28. The firm has a market capitalization of $84.64 billion, a price-to-earnings ratio of 50.54, a PEG ratio of 3.98 and a beta of 1.20. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12. 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 (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.84 EPS. Sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. Cintas’s dividend payout ratio is currently 36.11%.

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.