USA Financial Formulas Sells 334 Shares of Cintas Co. (NASDAQ:CTAS)

USA Financial Formulas trimmed its stake in shares of Cintas Co. (NASDAQ:CTAS) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,143 shares of the business services provider’s stock after selling 334 shares during the quarter. Cintas makes up 0.4% of USA Financial Formulas’ holdings, making the stock its 11th biggest holding. USA Financial Formulas’ holdings in Cintas were worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after acquiring an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. LVM Capital Management Ltd. MI lifted its stake in Cintas by 292.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock valued at $1,002,000 after buying an additional 4,086 shares during the period. Atria Investments Inc boosted its holdings in shares of Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after buying an additional 16,623 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Cintas by 343.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after buying an additional 86,460 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS stock opened at $195.70 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a 50-day moving average of $206.61 and a 200-day moving average of $204.87. Cintas Co. has a one year low of $146.29 and a one year high of $228.12. The company has a market cap of $78.97 billion, a P/E ratio of 49.42, a P/E/G ratio of 4.16 and a beta of 1.37.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the business posted $3.61 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.59%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Truist Financial decreased their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group cut their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $198.46.

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.