Legacy Financial Advisors Inc. Cuts Holdings in Cintas Co. (NASDAQ:CTAS)

Legacy Financial Advisors Inc. lessened its stake in Cintas Co. (NASDAQ:CTAS) by 10.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,336 shares of the business services provider’s stock after selling 811 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Cintas were worth $1,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its stake in Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC boosted its stake in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after purchasing an additional 6,341 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 valued at $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Annex Advisory Services LLC boosted 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 in the last quarter. Finally, LVM Capital Management Ltd. MI boosted its stake in shares of Cintas by 292.7% in the 4th quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock valued at $1,002,000 after purchasing an additional 4,086 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of Cintas stock opened at $203.99 on Thursday. The company has a market capitalization of $82.32 billion, a PE ratio of 49.18, a P/E/G ratio of 3.98 and a beta of 1.20. 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 company has a 50-day simple moving average of $200.97 and a two-hundred day simple moving average of $204.27. Cintas Co. has a one year low of $162.16 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share 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 analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.84 earnings per share. Research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is presently 36.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their price objective 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. Citigroup assumed coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Robert W. Baird upped their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Thursday, March 27th. Finally, Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $210.58.

Insider Transactions at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction on Monday, April 7th. The stock was 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 directly owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.00% of the company’s stock.

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.