Ardevora Asset Management LLP Sells 17,968 Shares of Cintas Co. (NASDAQ:CTAS)

Ardevora Asset Management LLP lowered its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,974 shares of the business services provider's stock after selling 17,968 shares during the period. Ardevora Asset Management LLP's holdings in Cintas were worth $10,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janiczek Wealth Management LLC raised its position in shares of Cintas by 113.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider's stock worth $30,000 after buying an additional 26 shares in the last quarter. Quarry LP raised its position in shares of Cintas by 221.1% in the first quarter. Quarry LP now owns 61 shares of the business services provider's stock worth $28,000 after buying an additional 42 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider's stock worth $36,000 after buying an additional 19 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Cintas in the fourth quarter valued at $46,000. Finally, Sunbelt Securities Inc. bought a new position in Cintas in the first quarter valued at $36,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Trading Down 0.2 %

NASDAQ:CTAS traded down $1.15 during mid-day trading on Friday, reaching $661.29. 390,055 shares of the company's stock traded hands, compared to its average volume of 380,657. Cintas Co. has a 12-month low of $438.59 and a 12-month high of $704.84. The firm has a market capitalization of $67.03 billion, a price-to-earnings ratio of 45.67, a PEG ratio of 3.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The company has a 50 day moving average price of $643.04 and a 200-day moving average price of $588.71.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the business earned $3.14 EPS. Cintas's revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts predict that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a yield of 0.82%. Cintas's dividend payout ratio is presently 37.29%.

Analysts Set New Price Targets

A number of research analysts recently commented on CTAS shares. Deutsche Bank Aktiengesellschaft increased their target price on Cintas from $629.00 to $726.00 and gave the company a "hold" rating in a research note on Thursday, March 28th. UBS Group increased their target price on Cintas from $680.00 to $790.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. Truist Financial increased their target price on Cintas from $660.00 to $775.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. StockNews.com raised Cintas from a "hold" rating to a "buy" rating in a research note on Monday, March 25th. Finally, The Goldman Sachs Group increased their target price on 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 issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $661.21.

About Cintas

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.