Xponance Inc. Sells 4,466 Shares of Cintas Co. (NASDAQ:CTAS)

Xponance Inc. cut its stake in Cintas Co. (NASDAQ:CTAS) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,530 shares of the business services provider’s stock after selling 4,466 shares during the period. Xponance Inc.’s holdings in Cintas were worth $11,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. AIA Group Ltd raised its stake in shares of Cintas by 11.2% in the fourth quarter. AIA Group Ltd now owns 4,441 shares of the business services provider’s stock worth $2,676,000 after acquiring an additional 446 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Cintas by 19.2% during the fourth quarter. Federated Hermes Inc. now owns 92,434 shares of the business services provider’s stock worth $55,706,000 after buying an additional 14,917 shares during the last quarter. Roman Butler Fullerton & Co. raised its stake in shares of Cintas by 18.1% during the fourth quarter. Roman Butler Fullerton & Co. now owns 1,579 shares of the business services provider’s stock worth $944,000 after buying an additional 242 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Cintas by 73.2% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 258 shares of the business services provider’s stock worth $155,000 after buying an additional 109 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Cintas by 6.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,269 shares of the business services provider’s stock worth $7,997,000 after buying an additional 758 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CTAS has been the subject of a number of recent research reports. Robert W. Baird boosted their price target on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Bank of America boosted 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. Barclays boosted their price target on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Oppenheimer reissued a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Finally, The Goldman Sachs Group upped their target price on shares of Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Cintas has an average rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Stock Up 0.6 %

CTAS traded up $3.75 during trading hours on Friday, hitting $666.19. 36,246 shares of the company’s stock were exchanged, compared to its average volume of 338,917. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The stock’s 50-day moving average is $642.18 and its two-hundred day moving average is $586.01. The stock has a market cap of $67.53 billion, a price-to-earnings ratio of 45.75, a PEG ratio of 3.91 and a beta of 1.27. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

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

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

Cintas 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.