Cintas Co. (NASDAQ:CTAS) Stake Reduced by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in Cintas Co. (NASDAQ:CTAS) by 8.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,180 shares of the business services provider’s stock after selling 1,790 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cintas were worth $3,680,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC raised its stake in shares of Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after purchasing an additional 6,341 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after purchasing an additional 529,005 shares during the period. JPMorgan Chase & Co. grew its position in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC increased its stake in Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after buying an additional 1,988 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CTAS shares. Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Citigroup began coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. Robert W. Baird cut their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. UBS Group reduced their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $199.79.

Cintas Price Performance

Shares of CTAS opened at $193.46 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a market capitalization of $78.07 billion, a price-to-earnings ratio of 46.64, a P/E/G ratio of 3.98 and a beta of 1.41. The business’s 50-day moving average is $200.57 and its 200-day moving average is $208.92. Cintas Co. has a fifty-two week low of $158.10 and a fifty-two week high of $228.12.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Cintas Company Profile

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.