Chesapeake Wealth Management Sells 158 Shares of Cintas Co. (NASDAQ:CTAS)

Chesapeake Wealth Management decreased its position in shares of Cintas Co. (NASDAQ:CTAS) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,782 shares of the business services provider’s stock after selling 158 shares during the period. Chesapeake Wealth Management’s holdings in Cintas were worth $326,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of 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 last quarter. KMG Fiduciary Partners LLC lifted its holdings 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 during the last quarter. JPMorgan Chase & Co. raised its holdings 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 worth $457,574,000 after acquiring an additional 1,286,668 shares during the last quarter. LVM Capital Management Ltd. MI raised its holdings in Cintas by 292.7% in the 4th quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock worth $1,002,000 after acquiring an additional 4,086 shares during the last quarter. Finally, Atria Investments Inc raised its stake in Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after buying an additional 16,623 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.1 %

Shares of NASDAQ:CTAS opened at $198.31 on Tuesday. The stock has a market cap of $80.03 billion, a P/E ratio of 47.81, a P/E/G ratio of 3.83 and a beta of 1.37. The firm has a fifty day moving average price of $205.21 and a 200 day moving average price of $205.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1-year low of $146.63 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.61 EPS. Sell-side analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.79%. Cintas’s payout ratio is 37.61%.

Analyst Upgrades and Downgrades

CTAS has been the subject of several recent analyst reports. UBS Group dropped their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Truist Financial reduced their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Morgan Stanley increased their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Finally, Robert W. Baird dropped their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Cintas has an average rating of “Hold” and an average target price of $198.46.

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.