RB Capital Management LLC Decreases Stock Position in Cintas Co. (NASDAQ:CTAS)

RB Capital Management LLC reduced its stake in Cintas Co. (NASDAQ:CTAS) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,347 shares of the business services provider’s stock after selling 20 shares during the quarter. RB Capital Management LLC’s holdings in Cintas were worth $2,620,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Janiczek Wealth Management LLC boosted its holdings in Cintas by 113.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 26 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 19 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Cintas during the 4th quarter worth approximately $46,000. Oakworth Capital Inc. acquired a new position in shares of Cintas in the 4th quarter valued at $48,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Cintas by 66.7% during the third quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock worth $41,000 after buying an additional 34 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Up 0.8 %

CTAS stock traded up $5.25 during midday trading on Wednesday, reaching $663.59. 293,792 shares of the company were exchanged, compared to its average volume of 348,112. The stock’s 50-day simple moving average is $650.12 and its 200 day simple moving average is $596.65. Cintas Co. has a 1-year low of $454.70 and a 1-year high of $704.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. The company has a market cap of $67.27 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 3.90 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the business earned $3.14 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts forecast that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. Cintas’s payout ratio is 37.29%.

Analyst Ratings Changes

CTAS has been the subject of a number of recent analyst reports. Oppenheimer restated a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. Bank of America upped their price objective on shares of Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Truist Financial lifted 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. UBS Group increased their price target on Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, Robert W. Baird increased their target price on Cintas from $660.00 to $750.00 and gave the stock an “outperform” 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.