Cintas Co. (NASDAQ:CTAS) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. reduced its stake in Cintas Co. (NASDAQ:CTAS) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,459 shares of the business services provider’s stock after selling 147 shares during the period. Cintas makes up about 3.1% of Desjardins Global Asset Management Inc.’s holdings, making the stock its 7th largest holding. Desjardins Global Asset Management Inc.’s holdings in Cintas were worth $29,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Janiczek Wealth Management LLC lifted its holdings in Cintas by 113.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after buying an additional 26 shares during the last quarter. Quarry LP lifted its stake in Cintas by 221.1% during the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after purchasing an additional 42 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Cintas by 33.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after buying an additional 19 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Cintas during the 4th quarter worth $46,000. Finally, Sunbelt Securities Inc. purchased a new stake in Cintas in the first quarter valued at $36,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Barclays increased their price objective on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. UBS Group lifted their target price on shares of Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Bank of America increased their price target on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Truist Financial lifted their price objective on shares of Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $661.21.

Cintas Price Performance

Shares of CTAS traded up $5.24 during mid-day trading on Tuesday, hitting $669.96. The company’s stock had a trading volume of 136,793 shares, compared to its average volume of 342,546. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The firm has a market capitalization of $67.91 billion, a P/E ratio of 45.91, a P/E/G ratio of 3.91 and a beta of 1.27. The firm has a 50-day simple moving average of $639.36 and a 200 day simple moving average of $583.58.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the company earned $3.14 earnings per share. Cintas’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts predict that Cintas Co. will post 14.96 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Cintas Company Profile

Cintas Corporation provides 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.