Faithward Advisors LLC Cuts Holdings in Cintas Corporation $CTAS

Faithward Advisors LLC trimmed its position in Cintas Corporation (NASDAQ:CTAS) by 90.0% in the third quarter, HoldingsChannel reports. The firm owned 2,518 shares of the business services provider’s stock after selling 22,699 shares during the quarter. Faithward Advisors LLC’s holdings in Cintas were worth $517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in shares of Cintas in the 3rd quarter worth approximately $29,000. Alpine Bank Wealth Management grew its holdings in shares of Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. WPG Advisers LLC increased its position in shares of Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 81 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in Cintas by 84.0% during the third quarter. Salomon & Ludwin LLC now owns 184 shares of the business services provider’s stock worth $37,000 after acquiring an additional 84 shares during the period. Finally, Evolution Wealth Management Inc. bought a new stake in Cintas during the second quarter worth $45,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 3.8%

Shares of Cintas stock opened at $185.44 on Thursday. The company’s 50-day moving average price is $195.39 and its 200-day moving average price is $192.92. The company has a current ratio of 1.71, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54. Cintas Corporation has a 12-month low of $180.39 and a 12-month high of $229.24. The company has a market cap of $74.16 billion, a price-to-earnings ratio of 54.06, a PEG ratio of 3.48 and a beta of 0.95.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, December 18th. The business services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Cintas had a net margin of 17.58% and a return on equity of 41.07%. Cintas’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. On average, equities analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, February 13th. Cintas’s dividend payout ratio (DPR) is presently 52.48%.

Analyst Ratings Changes

A number of research analysts have issued reports on CTAS shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research note on Friday, December 19th. Bank of America started coverage on Cintas in a research note on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price on the stock. Weiss Ratings raised shares of Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a research report on Wednesday, March 11th. Finally, Morgan Stanley decreased their price objective on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas has an average rating of “Moderate Buy” and an average target price of $220.25.

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.