Nissay Asset Management Corp Japan ADV Trims Stock Position in Cintas Co. (NASDAQ:CTAS)

Nissay Asset Management Corp Japan ADV cut its stake in Cintas Co. (NASDAQ:CTAS) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,035 shares of the business services provider’s stock after selling 15,564 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Cintas were worth $21,277,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. MJP Associates Inc. ADV grew its stake in Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after acquiring an additional 50 shares in the last quarter. Guardian Wealth Advisors LLC increased its stake in Cintas by 3.1% in the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after buying an additional 52 shares during the period. MGB Wealth Management LLC increased its stake in Cintas by 0.7% in the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after buying an additional 52 shares during the period. TIAA Trust National Association increased its stake in Cintas by 1.0% in the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after buying an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC increased its stake in Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after buying an additional 52 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Truist Financial lifted their price target on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Bank of America assumed coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a “buy” rating and a $250.00 target price for the company. Robert W. Baird boosted their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Finally, UBS Group increased their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $213.88.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

Cintas Stock Performance

CTAS opened at $215.33 on Wednesday. Cintas Co. has a 12-month low of $164.93 and a 12-month high of $228.12. The stock’s 50 day moving average price is $203.45 and its two-hundred day moving average price is $204.52. The firm has a market capitalization of $86.95 billion, a P/E ratio of 51.92, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last announced its 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 analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.84 earnings per share. On average, equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s dividend payout ratio is currently 36.11%.

About Cintas

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.