Kesler Norman & Wride LLC Sells 776 Shares of Cintas Co. (NASDAQ:CTAS)

Kesler Norman & Wride LLC cut its stake in Cintas Co. (NASDAQ:CTAS) by 14.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,443 shares of the business services provider’s stock after selling 776 shares during the period. Kesler Norman & Wride LLC’s holdings in Cintas were worth $812,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in Cintas in the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Cintas during the 4th quarter valued at $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Cintas during the 4th quarter valued at $31,000. IAG Wealth Partners LLC boosted its stake in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after buying an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas in the fourth quarter worth $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CTAS shares. Truist Financial increased their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. The Goldman Sachs Group increased their target price on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Morgan Stanley raised their target price on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $210.58.

Cintas Stock Performance

NASDAQ:CTAS opened at $207.87 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock’s fifty day moving average is $201.29 and its 200 day moving average is $204.61. The firm has a market capitalization of $83.88 billion, a PE ratio of 50.12, a PEG ratio of 3.98 and a beta of 1.41. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the firm posted $3.84 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, February 14th. Cintas’s 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.