Cintas Co. (NASDAQ:CTAS) Stock Position Decreased by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA cut its stake in shares of Cintas Co. (NASDAQ:CTAS) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,075 shares of the business services provider’s stock after selling 567 shares during the period. First Commonwealth Financial Corp PA’s holdings in Cintas were worth $745,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC lifted its stake in Cintas by 340.1% during the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock valued at $224,312,000 after buying an additional 841,952 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Cintas by 168.1% during the third quarter. Virtu Financial LLC now owns 14,468 shares of the business services provider’s stock valued at $2,979,000 after acquiring an additional 9,072 shares during the period. Morse Asset Management Inc lifted its position in shares of Cintas by 299.8% in the 3rd quarter. Morse Asset Management Inc now owns 21,229 shares of the business services provider’s stock valued at $4,371,000 after acquiring an additional 15,919 shares in the last quarter. Wealthquest Corp boosted its stake in Cintas by 285.9% in the 3rd quarter. Wealthquest Corp now owns 14,848 shares of the business services provider’s stock worth $3,027,000 after purchasing an additional 11,000 shares during the period. Finally, Anchor Investment Management LLC grew its position in Cintas by 299.7% during the 3rd quarter. Anchor Investment Management LLC now owns 2,294 shares of the business services provider’s stock worth $472,000 after purchasing an additional 1,720 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group increased their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company increased their price objective on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Truist Financial raised their price objective on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Finally, Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $213.62.

Cintas Stock Performance

CTAS stock opened at $204.72 on Thursday. The company has a market capitalization of $82.66 billion, a price-to-earnings ratio of 49.36, a P/E/G ratio of 3.98 and a beta of 1.20. The firm has a 50 day moving average of $201.38 and a two-hundred day moving average of $204.31. 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 Co. has a 12 month low of $162.16 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the company posted $3.84 earnings per share. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

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.