Kingsview Wealth Management LLC Cuts Stock Position in Cintas Co. (NASDAQ:CTAS)

Kingsview Wealth Management LLC trimmed its position in shares of Cintas Co. (NASDAQ:CTAS) by 25.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,615 shares of the business services provider’s stock after selling 1,259 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Cintas were worth $661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. lifted its position in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Hollencrest Capital Management lifted its position in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Cintas during the fourth quarter worth $27,000. Addison Advisors LLC lifted its position in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Robert W. Baird decreased their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Morgan Stanley lifted their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Finally, UBS Group decreased their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Cintas presently has an average rating of “Hold” and an average price target of $198.46.

Cintas Price Performance

Shares of CTAS stock opened at $204.61 on Thursday. Cintas Co. has a fifty-two week low of $150.70 and a fifty-two week high of $228.12. The firm has a market capitalization of $82.57 billion, a price-to-earnings ratio of 49.33, a PEG ratio of 3.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock’s 50-day simple moving average is $198.16 and its 200-day simple moving average is $207.47.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.61 earnings per share. As a group, equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is presently 37.61%.

About Cintas

Cintas Corporation engages in the provision of 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.