Rakuten Investment Management Inc. Reduces Holdings in Cintas Corporation $CTAS

Rakuten Investment Management Inc. decreased its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 57.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 67,477 shares of the business services provider’s stock after selling 91,036 shares during the period. Rakuten Investment Management Inc.’s holdings in Cintas were worth $12,891,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Cintas in the fourth quarter valued at approximately $923,672,000. Two Sigma Investments LP boosted its position in Cintas by 5,641.3% in the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after buying an additional 998,963 shares during the last quarter. SG Americas Securities LLC boosted its position in Cintas by 2,653.0% in the fourth quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock valued at $188,640,000 after buying an additional 966,597 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Cintas by 275.2% in the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock valued at $230,556,000 after buying an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP boosted its position in Cintas by 5,341.8% in the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock valued at $153,352,000 after buying an additional 733,380 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus decreased their price target on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Truist Financial decreased their price target on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday. Bank of America started coverage on Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target for the company. Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Finally, Weiss Ratings downgraded Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $215.92.

Cintas Stock Down 0.9%

Shares of NASDAQ:CTAS opened at $174.74 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $173.56 and a two-hundred day moving average of $184.24. The stock has a market cap of $69.91 billion, a P/E ratio of 49.36, a PEG ratio of 2.80 and a beta of 0.94. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. On average, research analysts expect that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio is presently 50.85%.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is currently owned by insiders.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.