Arax Advisory Partners Has $1.67 Million Holdings in Cintas Corporation $CTAS

Key Points

• Arax Advisory Partners cut its Cintas stake by 54.6% in the fourth quarter, leaving it with 8,874 shares valued at about $1.67 million.
• Cintas reported quarterly earnings of $1.24 per share, matching estimates, while revenue of $2.84 billion slightly beat expectations and rose 8.9% year over year.
• The company recently paid a quarterly dividend of $0.45 per share, and Wall Street currently has a consensus rating of Hold with an average price target of $215.92.

Arax Advisory Partners lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 54.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,874 shares of the business services provider's stock after selling 10,670 shares during the period. Arax Advisory Partners' holdings in Cintas were worth $1,669,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Cintas by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider's stock valued at $7,994,594,000 after buying an additional 564,487 shares in the last quarter. State Street Corp increased its position in Cintas by 1.4% in the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider's stock valued at $2,879,632,000 after buying an additional 210,477 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cintas by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider's stock worth $1,746,453,000 after acquiring an additional 97,220 shares in the last quarter. Norges Bank bought a new stake in shares of Cintas during the fourth quarter worth about $923,672,000. Finally, Morgan Stanley increased its position in shares of Cintas by 0.8% during the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider's stock worth $826,214,000 after acquiring an additional 36,666 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Down 0.9%

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 stock has a market cap of $69.91 billion, a price-to-earnings ratio of 49.36, a PEG ratio of 2.80 and a beta of 0.94. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The company's 50-day moving average price is $173.56 and its two-hundred day moving average price is $184.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts' consensus estimates of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. As a group, equities 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas's payout ratio is presently 50.85%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTAS. Weiss Ratings downgraded shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. UBS Group reissued a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Robert W. Baird raised shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective for the company in a research report on Wednesday, March 11th. Bank of America started coverage on shares of Cintas in a research report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price objective for the company. Finally, Truist Financial reduced their price objective on shares of Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $215.92.

About Cintas

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.

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