Russell Investments Group Ltd. Sells 3,228 Shares of Cintas Co. (NASDAQ:CTAS)

Russell Investments Group Ltd. trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 7.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 42,886 shares of the business services provider’s stock after selling 3,228 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cintas were worth $25,830,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in shares of Cintas by 7.6% during the third quarter. Commonwealth Equity Services LLC now owns 15,342 shares of the business services provider’s stock valued at $7,380,000 after buying an additional 1,080 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Cintas by 7.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,799 shares of the business services provider’s stock valued at $2,790,000 after purchasing an additional 403 shares during the last quarter. Dakota Wealth Management boosted its stake in shares of Cintas by 529.1% during the third quarter. Dakota Wealth Management now owns 4,303 shares of the business services provider’s stock valued at $2,070,000 after purchasing an additional 3,619 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Cintas by 13.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 17,517 shares of the business services provider’s stock worth $8,426,000 after purchasing an additional 2,022 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Cintas by 10.3% in the third quarter. Stratos Wealth Partners LTD. now owns 5,019 shares of the business services provider’s stock worth $2,415,000 after buying an additional 468 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several analyst reports. Truist Financial increased their price target on shares of Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Barclays boosted their price target on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Oppenheimer reissued a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Finally, UBS Group raised their price target on Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Trading Up 0.8 %

Shares of NASDAQ CTAS opened at $663.59 on Thursday. The stock has a market cap of $67.27 billion, a P/E ratio of 45.83, a price-to-earnings-growth ratio of 3.90 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. Cintas Co. has a 1 year low of $454.70 and a 1 year high of $704.84. The firm has a 50-day moving average of $651.02 and a 200 day moving average of $597.11.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping 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 firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the firm posted $3.14 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts expect that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Dividend Announcement

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